LONDON - A slowing world economy may force the International Energy Agency to make a further cut in its oil demand growth forecast when it releases its latest monthly report on Thursday, the head of the IEA told Reuters.
"We are likely to cut demand ... because the IMF changed its projections on the world economy very dramatically," Nobuo Tanaka said on Wednesday.
"We have to take that into our assumptions."
Oil has fallen sharply and selling accelerated last week on expectations of slower demand after the International Monetary Fund warned developed economies would turn in their worst performance in more than 50 years.
Turmoil in the world's financial markets had already led the IEA, in its previous monthly report, to cut 2008 world oil demand growth to the lowest rate in 15 years to just 440,000 barrels per day.
"We are likely to cut demand ... because the IMF changed its projections on the world economy very dramatically," Nobuo Tanaka said on Wednesday.
"We have to take that into our assumptions."
Oil has fallen sharply and selling accelerated last week on expectations of slower demand after the International Monetary Fund warned developed economies would turn in their worst performance in more than 50 years.
Turmoil in the world's financial markets had already led the IEA, in its previous monthly report, to cut 2008 world oil demand growth to the lowest rate in 15 years to just 440,000 barrels per day.
