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IEA Revises World Oil Demand Growth Sharply Lower

The world will see much weaker oil demand growth in 2015 than forecast previously, the International Energy Agency said on Tuesday, adding that oil prices may drop further. “Recent price drops appear both supply and demand driven. Further oil price drops would likely be needed for supply to take a hit - or for demand growth to get a lift,” the agency representing industrialized nations said in a monthly report. Oil prices fell for a third straight month in September, and benchmark...

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