IEA cuts world oil demand view - indications higher prices depressing demand

[jpak]

http://www.marketwatch.com/news/story/iea-cuts-oil-demand-view/story.aspx?guid=%7B55AF40C8-A261-44F0-AF51-9FDEBBB120AE%7D&dist=hplatest

The International Energy Agency on Tuesday cut its estimate of world oil demand for this year and next, saying there are signs that oil prices close to $100 a barrel are depressing demand.

The Paris-based energy agency said it's cut its estimate for fourth-quarter demand by 500,000 barrels a day, given higher prices, weaker-than-expected economic data from the U.S. and the former Soviet Union and delays to European heating oil restocking.

It also cut its estimate for 2008 demand by 300,000 barrels a day. The estimate of reduced demand from the West's top energy watchdog comes just days ahead of a gathering by the Organization of Petroleum Exporting Countries this weekend in Riyadh to discuss the impact of a slowing global economy and the weak dollar, in which Saudi Arabia may push for expanded output.

The IEA discussed at length in its monthly report the impact of $100 oil.

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[bullimiami]

1. the biggest scam in the history of the earth is underway and bush is part of it.

[OKIsItJustMe]

2. Okay, I'll bite

What is the biggest scam in the history of the Earth?

[bullimiami]

3. the transfer of trillions of dollars to a small group of elites.

the bush crony crowd. big oil incl saudis, big defense incl carlyle.