International Energy Agency revises outlook on gross world oil demand towards its decline

/Moscow Financial House-InfoCenter, May 11, 00/ - World Energy Agency informed that it revised forecasts on world oil demand due to high oil prices, increase in world export and consequent satisfaction of the demand. Estimations of the demand for year 2000 are lowered by 200,000 barrels per day to 1.26 mln barrels. The forecast of oil supply for OPEC countries totals 27.8 mln barrels per day (decline by 300,000), whereas the same number for non-OPEC countries was increased by 100,000 to 1.26 mln barrels per day. OPEC countries increased oil supply in April by 840,000 barrels. Remarkably, Iraq took 50% of this hike.