RTTN:IEA Maintains 2012 Global Oil Demand Forecast
(RTTNews) - The International Energy Agency maintained its global oil demand forecast for 2012 as consumption decreased on seasonal product demand and high oil prices.
The IEA, in its monthly Oil Market Report released today, held its 2012 oil demand growth forecast steady at 0.8 million barrels per day (mbd) to 89.90 mbd.
OPEC crude oil supply in March rose to 31.43 mbd to hit a three-and-a-half year high, on a steady ramp-up in Libyan production, the agency noted.
