IEA Cuts Oil Demand Forecast On Brexit Economic Impact

IEA cuts oil demand forecast on Brexit economic impact

PARIS, (Pakistan Point News - APP - 11th Augst,2016) - The IEA said Thursday it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain's vote to leave the European Union. At the same time oil oversupply, which has been weighing on the oil price in recent months, will disappear in the course of the second half of this year, the International Energy Agency said in its monthly oil market report.