<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/831f9957-83d1-4b46-b9dd-ef6d801077f4/41BE34E6-476E-4095-A4C6-00174171009A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html" href="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html"><P>The worst recession in decades will curtail oil demand for years to come, the <A href="http://www.ft.com/cms/s/0/1d73e2e0-55e9-11de-ab7e-00144feabdc0.html" title="http://www.ft.com/cms/s/0/1d73e2e0-55e9-11de-ab7e-00144feabdc0.html" class="bodystrong">International Energy Agency</A> predicted on Monday as it cut sharply its forecasts for world consumption and declared that the threat of a supply crunch had receded.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html">The consuming countries’ oil watchdog said it expected global demand to grow at an average annual rate of just 0.6 per cent or 540,000 barrels per day from 2008-14, raising consumption from 85.8m b/d to 89m b/d.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html"><P>The slowdown in demand growth means the crucial cushion of spare supply the <A href="http://blogs.ft.com/energy-source/carolas-whos-who-of-opec/" title="FT.com | FT Energy Source" class="bodystrong">Opec</A> oil producers’ cartel holds is now expected to reach 7.78m b/d next year, or 8 per cent of global demand. Last year, the IEA expected surging energy usage to reduce that supply cushion to 1.67m b/d.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html">The IEA cautioned against putting too much faith in hopes of a swift economic recovery, </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/dffed620-648b-11de-a13f-00144feabdc0.html"> It said that economic “green shoots” could be accounted for by stock rebuilding across industries after a steep drawdown of inventories.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/41BE34E6-476E-4095-A4C6-00174171009A/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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