{"id":2874,"date":"2014-12-12T07:02:50","date_gmt":"2014-12-12T12:02:50","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2874"},"modified":"2014-12-12T07:02:50","modified_gmt":"2014-12-12T12:02:50","slug":"iea-cuts-global-oil-demand-forecast-for-4th-time-in-five-months-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2874","title":{"rendered":"IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months &#8211; Bloomberg"},"content":{"rendered":"<p><a href=\"https:\/\/www.bloomberg.com\/news\/2014-12-12\/iea-cuts-global-oil-demand-forecast-for-4th-time-in-five-months.html\">IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months &#8211; Bloomberg<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, the<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/international-energy-agency\/\">International Energy Agency<\/a>\u00a0said.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Consumption will expand by 230,000 barrels a day less than estimated in November, the Paris-based adviser to 29 nations said in a report today. Output from nations outside of the Organization of Petroleum Exporting Countries will grow at a faster pace than the agency predicted last month. Production rising faster than demand could strain some nations\u2019 ability to store by the middle of next year, it predicted.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">The agency cut projections because the economies of producer nations are being hurt by tumbling prices, the IEA said. Most of the reduction in next year\u2019s estimate is attributable to\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/russia\/\">Russia<\/a>, where sanctions are hobbling growth, it said. Brent crude costs that collapsed 43 percent this year are too low for 10 of OPEC\u2019s 12 members to balance their budgets, data compiled by Bloomberg show.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months &#8211; Bloomberg. Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, theInternational Energy Agency\u00a0said. Consumption will expand by 230,000 barrels a day less than estimated in November, the Paris-based adviser to 29 nations [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[433,589,592],"class_list":["post-2874","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-international-energy-agency","tag-oil-demand","tag-oil-price"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2874"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2874\/revisions"}],"predecessor-version":[{"id":2875,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2874\/revisions\/2875"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}