Oil Demand Growth Forecasts Cut as Economies Slow

- August 4th, 2011

Reuters reports that a sharp slowdown in economic growth, especially in the United States, is compelling economic analysts to cut down estimates for global oil demand.

Reuters reports that a sharp slowdown in economic growth, especially in the United States, is compelling economic analysts to cut down estimates for global oil demand.

The market news is quoted as saying:

The investment bank, which has been one of the most bullish forecasters of oil prices this year, now sees global oil demand increasing by 1.1 million barrels per day (bpd) this year to 88.68 million bpd.

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