OPEC Cuts 06 World Oil Demand Growth To 1.4 Mln B/D

Schlumberger – OPEC’s report is more optimistic on demand growth than last week’s report from the International Energy Agency.

In Friday’s report, the IEA slashed its demand growth figure for the year by 220,000 b/d to 1.24 million b/d and said the downward trend could accelerate as more fuel subsidies are removed in Asia and high prices weigh on demand in countries in the Organization of Economic Cooperation and Development.

However, OPEC only trimmed world oil demand growth this year by 60,000 b/d to 1.4 million b/d to total 84.6 million b/d, the report said.
Schlumberger