IEA cuts global oil demand for 2009 and 2010

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The Paris-based IEA has cut global oil demand by 190,000 barrels per day (b/d) for 2009 and 2010. While oil demand has been stronger than anticipated in some Organisation for Economic Co-operation and Development (OECD) areas such as North America, demand has been depressed by weaker-than-expected demand from two non‐OECD regions – Asia and the Middle East.

Global oil demand is now estimated at 84.8 million b/d in 2009 and 86.4 million b/d in 2010. Year-on-year growth for global oil demand avera