News Headline Summary

US EIA cuts forecast for 2012 world oil demand growth by 40,000BPD, now sees 0.75MBPD year-on-year increase

- Cuts 2013 demand growth forecast by 30,000BPD, now sees 0.89MBPD year-on-year increase.
- Sees 2013 nat gas production flat to 2012 at 68.84BCFD (Prev. up 0.5%)

Update details:

- Back in August the IEA also cut 2013 Oil demand forecast on weak economy. They did note that a slightly stronger macroeconomic outlook in 2013 will likely be offset by the resumption of nuclear capacity in Japan reducing the need for oil.

Print 17:02, 06 Nov 2012 - Commodities - Source: Newswires