IEA trims 2007 global oil demand forecast

The International Energy Agency revised its 2007 global oil product demand forecast down slightly, citing continued weather-related demand weakness in industrialised countries of the OECD.

The Paris-based energy watchdog said in a monthly report it now sees global oil product demand standing at 85.8 mln bpd in 2007, representing a 250,000 bpd downwards revision from the last monthly report.