Oil demand growth seen slowing for a second year

Oil demand growth seen slowing for a second year

PARIS — The International Energy Agency expects growth in the global demand for crude oil to slow for a second consecutive year in 2017.

The Paris-based agency expects growth of 1.3 million barrels a day this year, compared with 1.4 million barrels previously forecast, due to stalled demand in the U.S., Middle East, Russia and India.

In its monthly report released Thursday, the IEA, a body that advises major oil-consuming nations, says production will grow this year, even when considering pledges by OPEC countries to limit output.

The combination of factors could keep a lid on oil prices, which have risen in the past six months after a three-year slump. On Thursday, the international benchmark for crude oil was up 2 cents at $55.88 a barrel.

The Associated Press

Just Posted

B.C. man convicted in fatal boat crash awaiting appeal date

Leon Reinbrecht maintains rights breached by delays

JoeAnna’s House fundraising campaign reaches $4.5 million

Offering ‘home away from home’ for families of KGH patients

Food truck options to expand in Salmon Arm

City council votes in new food truck regulations

New commercial development coming to council

Liquor outlet and 60-seat restaurant among uses proposed by applicant

Kelowna West byelection called for Feb. 14

Four candidate race to replace departed former B.C. premier Christy Clark

Solitary-confinement veto a chance to address mental health: advocate

B.C. Supreme Court made the landmark ruling Wednesday

KIJHL prospects shine in showcase game

Top players for Kootenay and Okanagan conferences put best skate forward.

Challenge issued to ‘Read for 15’

Regional district libraries to compete by asking patrons to read for 15 minutes on Jan. 26 and 27.

Winter storm coming to B.C. this weekend

The bets are on as to how much snow the province will actually get in the coming days

B.C. civil rights group files complaint about RCMP arrest of man who later died

Dale Culver, a 35-year-old Indigenous man was arrested in Prince George last July

Public asked to report bat sightings

White nose syndrome leads to bats flying in winter or death.

Lawyer says former B.C. government aide ‘barely guilty’ in ethnic vote scandal

Brian Bonney pleaded guilty to a breach of trust charge

Quite a few tears as homemade quilts distributed to residents of Ashcroft Reserve, Boston Flats affected by last summer’s fire

Quilters in B.C. and Alberta worked through the summer and fall to create more than 100 quilts.

Island Health: No need for alarm in wake of Victoria needle-prick incidents

Three incidents in a week prompts meeting between health authority, city service providers

Most Read