The International Energy Agency for the third time, has reduced the forecast for oil demand.

The International Energy Agency (IEA) for the third time since the beginning of this year has reduced the forecast for oil demand to 83.4 million barrels per day. This is the lowest value of this indicator since 2004, said AFP.
According to the previous forecast made in mid-February IEA, demand for oil until the end of the year was reduced to 84.7 million barrels per day. At the end of last year, the agency expected that the figure in 2009 will grow and reach 86.3 million barrels per day.
In 2008, according to the IEA, demand for oil reached 85.8 million barrels per day.
The calculations are based on IEA projections of the International Monetary Fund (IMF). According to the latest IMF forecasts, the world economy this year will decrease by 0,5-1 per cent. Because of the crisis also continued falling demand for commodities.
Cost of barrel of oil on world markets is now more than 50 dollars. This is higher than the end of 2008, when oil prices fell to a three-year minimum (about 35 dollars per barrel), but still below the record 147 dollars a barrel reached in the middle of last year.