IEA lowers again its forecast for global oil demand - MarketWatch

NEW YORK (MarketWatch) -- The International Energy Agency once again revised lower its forecast for 2009 global oil demand, saying that global appetite for oil will shrink at a pace close to levels last seen in the early 1980s.

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The Paris-based IEA said Friday that it is cutting its demand projection by 1 million barrels a day after a reassessment of GDP assumptions and much lower-than-expected first-quarter demand data. After the latest revision, global demand this year is now forecast at 83.4 million barrels a day, which is 2.4 million barrels a day below the 2008 level.

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