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Politics : Welcome to Slider's Dugout
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From: redfrecknj3/7/2007 10:40:12 AM
   of 50749
 
EIA Cuts Global Demand Forecast. Highlights of yesterday’s report:

2Q07 global demand falls 0.3 mm bopd to 84.8 mm bopd.
3Q07 falls 0.1 mm bopd to 86.3
full year 2007 falls 0.1 mm bopd to 86.6
2008 falls as well from 88.4 to 88.1 mm bopd

"The agency’s projections of lower world oil demand growth also reflect more accurate information it has received on conditions in developing countries, and not an expectation of a weaker global economy, said EIA international energy analyst Erik Kreil."

Yet CNBC is reporting the opposite (9:05) saying that the EIA’s predicted GROWTH will pressure oil prices higher.
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