Copper Tip Energy
MNP LLP Oilfield Services
AFTI Watchdog
AFTI Watchdog
MNP LLP Oilfield Services
Copper Tip Energy Services

Oil demand growth seen slowing for a second year

Posted On April 13th
By : The Canadian Press
Comment: Off

PARIS — The International Energy Agency expects growth in the global demand for crude oil to slow for a second consecutive year in 2017.

The Paris-based agency expects growth of 1.3 million barrels a day this year, compared with 1.4 million barrels previously forecast, due to stalled demand in the U.S., Middle East, Russia and India.

In its monthly report released Thursday, the IEA, a body that advises major oil-consuming nations, says production will grow this year, even when considering pledges by OPEC countries to limit output.

The combination of factors could keep a lid on oil prices, which have risen in the past six months after a three-year slump. On Thursday, the international benchmark for crude oil was up 2 cents at $55.88 a barrel.

The Associated Press

About the Author
Share This Article By Email

Related Posts

New SHOWCASE Directory Companies

Assetworks
Environmental Refueling Systems (ERS)

Predator Drilling
Galdos Systems

 

Versa-Line
FUELware

Techmation Electric & Controls
Galloway Construction Group