Posted on 08/12/2014 2:29:25 AM PDT by OldGuard1
IEA Lower 2014 Oil Demand Growth Forecast on Global Economic Outlook
Watchdog Cuts Estimate As Second Quarter Demand Growth Fell to Lowest Level in Two Years
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World oil demand will rise less than previously thought in 2014, due to a lower outlook for the global economy and demand growth in the second quarter falling to its lowest level in more than two years, the IEA energy watchdog said Tuesday.
In its monthly oil-market report, the International Energy Agency—which advises industrialized nations on oil policies—trimmed its projection for growth in global demand this year to 1 million bbl/d...
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"Despite armed conflict in Libya, Iraq and Ukraine, the oil market today looks better supplied than expected, with an oil glut even reported in the Atlantic basin,"
(Excerpt) Read more at online.wsj.com ...
Did they include Asia this time?
Keep in mind such a crash would effectively shut down horizontal drilling projects, leaving us padding the Islamist's coffers more heavily (again).
Hi! I’m from the Government and I NEVER lie about statistics. Honest! Cross My heart!
I notice that, at least hereabouts, gas prices went down steadily for some time before the price of oil began to decline. That is what suggested to me that the economy was not doing so well as the government was declaring.
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