World oil demand to reduce in 2009: IEA

Oil&Gas Materials 10 April 2009 16:36 (UTC +04:00)

Azerbaijan, Baku, April 10 / Trend , A.Badalova/

The International Energy Agency (IEA) lowered world oil demand in 2009 to one million barrels per day. The growth in world GDP, as well as figures for the first quarter of this year, which were below the expectations have caused the reduction.

According to the IES report, the world oil demand will fall by 2.4 million barrels per day to 83.4 million barrels per day in 2009.

In March, the world oil volumes will fall by 400,000 barrels per day and make up 83.4 million barrels per day. Oil deliveries of non-OPEC countries will reduce by 170,000 barrels per day.

IEA report says a reduction in oil deliveries of non-OPEC countries by 320,000 barrels per day, because of low fuel production volumes, including low production volumes in Asia in the first quarter of 2009. Oil deliveries of non-OPEC countries will reduce from 50.6 million barrels to 50.3 million barrels per day.

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