Soaring natural-gas and coal prices are forcing power-generation companies and manufacturers to switch to using oil, which could add half a million barrels a day to global demand, the IEA said
Soaring natural-gas and coal prices are forcing power-generation companies and manufacturers to switch to using oil, a move that could add half a million barrels a day to global demand, the International Energy Agency said Thursday.
In its monthly market report, the IEA increased its global oil-demand forecasts for this year and the next by 170,000 and 210,000 barrels a day, respectively, but added that the cumulative effect ofTo Read the Full Story
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