LONDON: The International Energy Agency (IEA) cut its long-term forecast for global oil demand as the economic crisis saps consumption in developed economies and environmental policies encourage alternative energy use.
Global oil demand was expected to advance 1% a year to 105 million barrels a day by 2030 from 85 million barrels a day in 2008, the adviser to 28 nations said yesterday in its annual World Energy Outlook.
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