The International Energy Agency maintained its global oil demand forecast for the year 2013, despite trimming its absolute demand estimates on account of revised historical data for Russia.
The IEA, in its monthly Oil Market Report released Wednesday, maintained oil demand projection at 90.6 million barrels per day (mbd) for 2013.
Commenting on the supply, the agency said the OPEC supply in May rose by 135,000 bd to 30.89 mbd, a seven-month high offsetting lower oil supplies Canada, mainly due to maintenance.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.