Friday, October 9, 2009

Oil Demand Destruction Destroyed

The IEA this morning raised its 2010 forecasted oil demand by 0.35 million barrels per day (Mb/d) to 86.1 Mb/d. This means 2010 oil demand will be 1.7% (1.5 Mb/d) above 2009. Almost all of the growth is coming from non-OECD countries with OECD oil demand growth expected to be flat.
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