IEA Bearish on 2009 Oil Demand, Overlooks U.S., Barclays Says

(Bloomberg) — The International Energy Agency remains too bearish on its outlook for oil demand this year and has overlooked U.S. industrial output that will boost consumption in the coming months, Barclays Plc said.

The IEA, energy adviser to the Organization for Economic Cooperation and Development, yesterday raised its forecast for global oil demand after increasing the estimate for the second quarter. By maintaining its prediction for the latter half of 2009, the IEA isn