Thursday, April 11, 2013

IEA Says Weak Demand Trend Continues in 2013

The International Energy Agency expects 2013 to be the third consecutive year of weak growth in demand, adding only 795 000 barrels per day (795 kb/d), according to the April Oil Market Report (OMR) published today. Relatively strong demand growth among developing countries outside the Organization for Economic Development and Cooperation (OECD) of 1.28 million barrels a day (mb/d) will be tempered by a contraction of 480 kb/d in OECD consumption, particularly in Europe, where it will shrink by 340 kb/d. European demand has not been this weak since 1985. Read more

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