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June 12, 2007
IEA raises forecast for fuel demand
IEA raises forecast for fuel demandThe International Energy Agency raised its forecast for fuel demand this year. The IEA said global demand is expected to rise 2% to 86.1 million barrels a day in 2007 from a revised 84.5 million barrels a day in 2006. That's 420,000 barrels more than the IEA projected in May and comes after higher-than-expected demand from nations including Indonesia and Singapore. The agency said in its monthly report that it's difficult to escape the conclusion that the oil market will be tight in the second half of the year.
Posted by Martin at June 12, 2007 9:31 AM
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