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IEA forecasts oil demand increase in 2009

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IEA forecasts oil demand increase in 2009

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Demand for oil will grow in 2009 after shrinking this year according to the International Energy Agency. The prediction from the IEA is in stark contrast to the US government’s Energy Information Administration, which said this week that demand is expected to shrink next year. The IEA – which is an adviser to 28 industrialised countries – sees demand rebounding, on the assumption the global economy will gradually recover in the second half of next year.