IEA: Uneven demand makes oil prices hard to predict

08/6/2008 | Rigzone

While oil consumption in the U.S. and other OECD nations is declining, demand growth is undiminished in China and India, making it difficult to predict whether the price per barrel will fall below current levels. "We don't know if this is a turning point. We'd like to know but we don't have an answer yet," said Nobuo Tanaka of the International Energy Agency.

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