The EIA is slightly lowering its global energy consumption forecast for 2011 and 2012, thanks to...

|By:, SA News Editor

The EIA is slightly lowering its global energy consumption forecast for 2011 and 2012, thanks to growing pessimism about economic growth; the agency now expects oil consumption to grow by 1.4M barrels/day in each year. The EIA's report isn't doing much to keep oil prices down: NYMEX crude is currently up $3.15/barrel.