Crude oil demand

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World demand still projected to increase.

Crude Oil Rises From 13-Month Low on European Bank Rescue Plan

by Gavin Evans

The International Energy Agency, an adviser to 28 nations, on Oct. 10 cut its forecast for global oil demand for 2008 to 0.5 percent, the lowest since 1993. Demand next year will rise by 700,000 barrels a day to 87.2 million, 440,000 barrels fewer than the Paris-based agency projected a month earlier.