OPEC Cuts 2006 Oil Demand Growth Forecast

(Reuters) – World oil demand will rise more slowly than previously expected in 2006, partly because of record high prices, the Organization of the Petroleum Exporting Countries said on Wednesday.

Demand will rise by 1.3 million barrels per day, 80,000 bpd less than expected in July, the 11-member producer group said in a monthly report. OPEC left estimated growth in 2007 unchanged at 1.3 million bpd.
Reuters