World oil demand forecast World oil demand is

World oil demand forecast

World oil demand is expected to grow by 800,000 barrels a day this year, down 100,000 barrels from previous forecasts, the Organization of the Petroleum Exporting Countries, or OPEC, said in a monthly report on Wednesday, citing a weak global economy. OPEC left its 2013 growth forecast unchanged at 800,000 barrels a day. OPEC said projections for global oil consumption continue to be affected by uncertainties facing the world economy and that slower industrial production has sharply cut demand in both the U.S. and China, while the winter outlook presents further uncertainties.