The International Energy Agency said Friday it sees global demand for oil in 2001 at 77.3 million barrels per day (bpd), compared with 75.6 million in 2000.
This is a reduction of 280,000 from its previous forecast, due mainly to the effect of a slowdown in the US economy, the IEA said in a statement.
It said it saw a fall in production by OPEC members, including Iraq, to 27.86 million barrels per day in December compared with 29.54 million in November.
The fall is mainly explained by Iraq's 12-day block on exports as part of its dispute with the United Nations.
When figures from Iraq are excluded, production dropped by 105,000 barrels per day, mainly due to a slowdown in production in Saudi Arabia, the IEA added.—AFP.
©--Agence France Presse.
© 2001 Mena Report (www.menareport.com)
