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Article: World demand for oil on wane, claims think-tank.
- Article from:
- The Evening Standard (London, England)
- Article date:
- April 12, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: NICK GOODWAY
WORLD demand for oil is more likely to slow down than rush ahead for the first time in two years a leading energy think-tank said today.
The Paris-based International Energy Authority said it remained "concerned but not alarmed" with warmer weather on the way, less likelihood of a surge in demand from China's economic power house, increased output from Opec and Western stocks at a higher level than previously thought.
Brent crude opened 10 cents higher today at $53.31 against last week's spike of $56.80.
The IEA said interest rates are now moving on an upward path in countries that have strong economic growth. That ...