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IEA: Oil demand pushed up by emerging markets

from Sky News

Emerging economies will become the main force in the global oil market next year and push demand to a record high level, according to new data. The International Energy Agency (IEA) has also raised its demand forecast this year because of unseasonably cold weather globally. The IEA now estimates that in 2014 emerging economies will drive demand to a record 92 million barrels per day. The agency said improving prospects for global economic growth would pull demand, despite increasing efficiency in energy use in advanced countries. more


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