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Business Brokerage World oil demand growth next year will slow sharply from a 28-year high in 2004 because a squeeze on diesel supplies for power generation in China should ease, the International Energy Agency said on Friday.

"This report sees further downward adjustments to demand, and they may not be the last, " said the IEA, adviser to 27 industrialized countries, in its Monthly Oil Market Report. "Despite an aggressive cut last month in our U.S. demand forecast, further downward revisions are needed this month." high prices are slowing oil use in the industrialized world and also signals pressure on demand in some emerging countries.

Forex Broker In its monthly oil market report, the IEA shaved its estimate for 2005 demand growth by 70,000 barrels a day to 1.38 million bpd on the 83.7 million bpd world market.

World oil demand will rise less than expected in 2008 because of high prices and slower growth in the United States and elsewhere, the International Energy Agency said on Tuesday. Consumption will rise by 1.03 million barrels per day (bpd) this year, 230, 000 bpd less than the previous forecast, the IEA said. The agency has more than halved its estimate from 2.2 million bpd in July 2007 and may cut it further.

Online Brokerage That would put growth in 2005 at 1.7 percent, down from 3.3 percent or 2.63 million bpd this year when China led the steepest increase in world oil demand since 1976. World growth in 2003 was 1.8 million bpd or 2.3 percent.

The International Energy Agency (IEA) released a report Wednesday which stated that the growth of the aforementioned nations will increase the world's oil demands by more than 50% by 2030.

Real Estate Broker Fuel consumption has raced ahead of economic growth in China this year. Oil demand to cater for the expanding economy was supplemented by private electricity consumption, fueled by diesel because non-oil capacity could not cope with demand.

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Agency Brokerage Spark ``Barring any hard landing, we expect continued Chinese economic expansion to keep fueling steep oil demand growth through 2005 and beyond,'' said the IEA, adviser on energy to industrialized nations.

Nash growth slows Carole Nash has seen a slow down in profit growth for the year ended 31 October 2005. tax profits rose 25% to £2.7m in 2005 up from £2.2m, while a year earlier the broker had reported a 64% hike in profits. Turnover in 2005 increased to £25.3m from £22.6m, while overall premium income, rose to £70.7m. The broker said it had made further appointments to its board to strengthen its position as a top 30 independent broker.

Business Broker ``But we anticipate this to be partially offset in the short to medium term by reduced diesel demand growth for standalone generators as non-oil power generating capacity is gradually catching up with power demand.''

Brokerage Account Rising world diesel consumption was one of the main factors behind this year's record-breaking increase in oil prices.

Stock Broker Competition for the low-sulphur crudes required to make diesel by refiners worldwide raised the premium for grades like benchmark North Sea Brent and U.S. crude.

Brokerage Online Stock Trading But Chinese demand growth in 2005 is forecast to cool to 360,000 bpd, 5.7 percent, down from this year's explosive 14.7 percent or 810,000 bpd, said the IEA.

Broker Justin Ticket The agency said extra Chinese diesel demand for power generation may have accounted for as much as 300,000 bpd of China's incremental demand in 2004.

Real Estate Brokerage Strong U.S. growth saw diesel consumption for trucking rise 5.5 percent in the year to end-October, an increment of 395,000 bpd.

Commodity Broker The IEA report estimated Chinese third quarter oil consumption slowed as expected to 8.6 percent after gains of 19 percent and 25 percent in the first and second quarters of 2004.

Brokerage House China demand grew 11 percent or 550,000 bpd in 2003.

Real Estate Broker Exam The IEA said this year's record high oil prices appeared to have little impact so far on world oil demand.

Brokerage Services It said growth in developing countries outside the Organization for Economic Cooperation and Developmentcontinued to be supported by government subsidies on retail fuel prices.

Broker Live Ticket But it said those non-OECD subsidies had exerted significant pressures on government budgets which could cause delayed demand effects through reduced government expenditure.

Online Brokerage Firm ``Non-OECD consumption may emerge relatively unscathed if international crude prices ease further soon,'' the report said.

Security Broker Dealer ``On the other hand, price effects on GDP and demand tend to be lagged, as perceptions about future price levels are reflected in consumption and capital asset decisions, and we could thus be witnessing a slowdown later on.''

Coldwell Banker Residential Reuters - 12/10/2004

Topic: Petroleum Industry

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