The advancing demand for oil in China, Europe and the US was less than expected for the quarter according to the International Energy Agency (IEA).
China's demand for oil that was an explosive 19.3 per cent in the first quarter of 2004 slowed to 4.5 per cent in the same period this year. In US, the first quarter consumption slowed from a growth of 1.7 per cent last year to 1.2 per cent this year.
However, Europe faced the biggest slowdown as the first quarter demand went down 1.1 per cent from last year and is now projected to decline by 0.2 per cent on average this year.
12-May-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}