OPEC Inched Down 2012 Oil Demand Forecast

Bloomberg reported that OPEC inched down its 2012 global oil demand growth forecast due to economic weakness in Europe and the U.S.

As quoted in the market news:

OPEC, the source of more than a third of the world’s oil, said global demand would rise in 2012 by 940,000 bpd, which is 120,000 bpd less than expected last month. Daily oil use is expected to average 88.76 million bpd.

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