IEA Says Oil Market Tight Despite Slowdown

Reuters reported that according to the International Energy Agency (IEA), global oil demand slightly lower than expected in 2011 and 2012.

As quoted in the market news:

The agency, which advises more than two dozen wealthy industrialized countries on energy policy, said demand for oil from the Organization of the Petroleum Exporting Countries (OPEC) was running ahead of output.

Click here to read the full Reuters report.