By Prensa Latina,
London : The International Energy Agency predicted the world oil demand would fall this year to the level it had in 2002, due to several reasons, among them the suspension of governmental subsidies to energy consumption.
The IEA weekly report said the consumption of crude oil in the planet will grow 800,000 daily barrels, 230,000 less than the ones previously forecast, besides the rise of the price up to 140 dollars a barrel.
Precisely, the jump in the price forces several developing countries in Asia to cut subsidies in the last weeks, such as Indonesia, India, Malaysia, Sri Lanka and Taiwan.
The measure was applied to try to stop the increasing oil demand though experts consider the effects will be temporary.
IEA cut the oil supply forecast of producers non members of the Organization of Petroleum Exporting Countries from 860,000 to 460,000 barrels a day.