MW: Global oil demand to fall this year, rise in 2009: IEA
By Polya Lesova
NEW YORK (MarketWatch) -- Global oil demand is expected to contract in 2008 for the first time since 1983, shrinking by 200,000 barrels a day, with the total this year revised down by 350,000 barrels a day to 85.8 million barrels a day, the International Energy Agency said Thursday in its monthly oil market report. The IEA said that demand in 2009 will rise again to a downward-adjusted 86.3 million barrels a day based on the International Monetary Fund's assumption that the global economy will gradually recover from the second half of next year.
