The recent rise in oil prices is largely due to investor sentiment about potential economic...

|By:, SA News Editor

The recent rise in oil prices is largely due to investor sentiment about potential economic recovery, IEA says today in its Oil Market Report. "But we're not seeing it in terms of the preliminary demand data for early 2009." IEA now sees consumption falling by 2.56M barrels/day in 2009, down 200,000 from its previous outlook.