International Energy Agency is stationed at Paris which takes stock of the demand and supply position of the oil worldwide. According to the observation, the world demands of oil is to the tune of 86.9 m., barrels per day during 2008. This may slightly inch up to the level of 87.8m in the year 2009. Though the present supply and demand are almost matching, the various Geo political turmoil that is going around the globe, may tilt the balance towards the negative territory.
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