Oil demand recovering

By | June 01, 2002
China led a recovery in world oil demand in the second quarter but oil prices ebbed because inventory cover remained comfortable and speculators less concerned about tensions in the Middle East, the International Energy Agency said this month. Growing leakage over official output limits by OPEC, record exports from Russia, and worries about the slow pace of global economic recovery also have dulled the impact of rising oil demand, the IEA said in its monthly Oil Market Report.