The International Energy Agency cuts its oil demand growth forecasts for the coming year by a...

|By:, SA News Editor

The International Energy Agency cuts its oil demand growth forecasts for the coming year by a marginal 90K bbl/day, but warns that recent signs of recovery in global oil demand could be the result of one-off factors rather than a sustained trend. A sharp increase in Chinese apparent demand at the end of 2012 may have led to significant product inventory builds.