EIA Cuts Forecast of Growth in World Oil Demand For 2011

The U.S. government lowered its forecast of growth in world oil demand for 2011 on Wednesday, but expects developing countries to keep boosting global petroleum consumption. World oil demand is expected to rise 1.38M barrels p/d next year to 87.44M bpd, the Energy Information Administration said, down slightly from the 1.41M bpd increase that it projected last month. – Reuters

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