EIA expects $68 oil this year, next
Agency says less chance for significant improvement in world petroleum supply and demand due to steady demand growth
The U.S. Department of Energy’s Energy Information Administration said May 9 that “prospects for significant improvement in the world petroleum supply and demand balance appear to be fading.”
The agency said while U.S. production will grow in 2006 with recovery from 2005 hurricane damage from Rita....
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Consumption growth has slowed
U.S. natural gas consumption down
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