The Energy Information Administration is projecting that global oil demand will shrink 1.8 million barrels per day in 2009 . The forecasted decline has been increased from 1.4 million barrels, as projected in April. The EIA is projecting crude oil prices at $52 per barrel in 2009, rising to $58 per barrel in 2010, down $5 per barrel from the projection released in April.
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EIA projects global oil demand will shrink 1.8 million barrels of oil in 2009; oil prices projected at $52 for’09, rising to $58 in ‘10
