05-11-2005, 12:23 PM
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GreenHybrid Founder
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Real Name: Jason Siegel
Location: Houston, TX
Hybrids: 2004 Toyota Prius
Posts: 4,581
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Oil falls, high prices hurt demand: IEA
Quote:
Oil prices sagged on Wednesday as the International Energy Agency said weakening economic growth and higher fuel costs slowed oil demand growth in the first quarter of this year...
Prices fell as the International Energy Agency's monthly Oil Market Report said incremental demand in China, Europe and the United States was less than expected for the quarter.
The slowdown in growth means the outlook for fourth quarter world demand does not appear as likely to stretch producer countries as in the same period last year, the IEA said.
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http://www.reuters.com/newsArticle.j...toryID=8453521
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