By The Associated Press, August 11, 2016
LONDON — Global demand for oil will grow less than expected next year due to a weaker world economy, though the oversupply of crude in the market is ending, the International Energy Agency said Thursday.
The Paris-based agency, which consults oil-importing nations, lowered its forecast for demand growth next year to 1.2 million barrels a day from 1.3 million barrels a day previously. That would be a slowdown from this year’s growth of 1.4 million barrels a day.
