PARIS (Bloomberg) -- Oil demand will expand at the slowest pace since 2009 this year as global economic growth weakens, the International Energy Agency said. The adviser to governments also cut its estimates for 2015. Oil consumption will increase by about 650,000 bpd this year, the Paris-based agency said in its monthly market report Oct. 14. The reduction of 250,000 bopd from a previous estimate is the fourth in a row and means growth will be about half what it anticipated in June. Crude prices have plunged to a four-year low amid a glut.
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Oil demand growth this year seen weakest since 2009
![Oil demand growth this year seen weakest since 2009]()
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