LONDON Dec 12 Global oil demand will be
sluggish throughout 2013 as economic expansion remains tepid,
the West's main energy agency said on Wednesday, predicting
comfortable oil supply levels, which could alleviate oil price
pressure on consumers.
The International Energy Agency (IEA), which advises
industrialised nations on energy policy, said European oil
demand had plummeted in recent months, contracting at its
steepest rate since the onset of the 2008/09 crisis due to a
weak economy and high oil product prices.
The contraction in European demand would moderate but only
slowly through next year.
"Global demand growth is expected to stay relatively
sluggish through 2013, based on the continued assumption of
tepid global economic expansion," the IEA said in its monthly
The agency forecast global oil demand growth for 2013 at
865,000 barrels per day (bpd), 110,000 bpd higher than in its
previous report, taking consumption up to an average of 90.52