OPEC lowers 2007 oil-demand growth forecast

The Organisation of Petroleum Exporting Countries lowered its 2007 oil-demand growth forecast and reduced its 2006 oil-demand growth estimate, saying warm weather continues to dampen demand for oil.

In its monthly report, OPEC said it now expects 2007 oil demand to grow at an annual rate of 1.5 pct or 1.25 mln bpd, representing a slight downward revision of 70,000 bpd from the last monthly report.
Forbes