Oil demand growth to fall by 1.9pc says Opec

Opec said yesterday it had cut its estimate for growth in global oil demand in 2005 to 1.9 per cent from 2pc but had increased its forecasts for 2006.

Revised figures issued by Opec showed that the organisation, which groups 11 oil-exporting nations, now sees the increase in oil demand in 2005 being 40,000 barrels per day less than a previous estimate.