EIA Reviews Short-Term Energy Outlook

The US’s Energy Information Service (EIA) reports that global oil demand in the third quarter of 2007 would be 100,000 barrels per day higher than previously thought, at a total estimated $85.9 million bpd.
After rising to a weekly record-level nominal price of $3.22 per gallon on May 21, retail regular motor gasoline prices have started to recede as refinery problems are addressed and gasoline imports increase.

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