Azerbaijan, Baku, Feb. 11/ Trend , A. Badalova/
The International Energy Agency (IEA) reduced world oil demand forecasts in 2009 by 570,000 barrels per day after the International Monetary Fund reduced international GDP growth forecasts to 0.5 percent.
According to the IEA, the world oil demand will decrease by one million barrels (1.1 percent) per day.
A recent IEA report states that the world oil supply dropped 520,000 barrels in January and totaled 85.2 million barrels per day. The decrease was mainly due to reduced OPEC oil output.
Non-OPEC oil supplies will increase 0.4 million barrels per day and total 50.9 million barrels per day, the IEA said. The figure is 110,000 barrels less than the agency's initial estimate.
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