MW:IEA lowers outlook for global oil demand growth
By Polya Lesova
LONDON (MarketWatch) -- The International Energy Agency on Friday lowered its estimate for global oil demand growth in 2012 to 800,000 barrels a day, compared to its previous forecast of 1.1 million barrels a day, citing lowered projections for global economic growth. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted. "A two-speed outlook prevails - with robust oil demand growth envisaged in the non-OECD, while demand continues to fall across most of the OECD," the IEA said in its monthly oil market report.
