OPEC Sees 2006 World Oil Demand Growth Steady at 1.4M b/d

The Organization of Petroleum Exporting Countries Monday kept its forecast for 2006 global oil demand growth steady at 1.4 million barrels a day and said there were signs that high prices were starting to hit demand.

In its monthly oil market report, OPEC said even though the largest share of the increase in world oil demand growth this year is mainly in developing countries, signs indicate an easing in oil demand, partly due to high oil prices.

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