Heavy fall in oil demand
GLOBAL demand for oil has fallen for the first time in 15 years and by the greatest amount since 1982.
A BP report revealed that worldwide consumption fell by 0.6 per cent last year to 84.4 million barrels per day.
A BP economist said the spike of up to 85 per barrel last year had exacerbated the recession. Oil prices rose above 42 per barrel for the first time in months yesterday.
However, a separate report has predicted the recession could be over. The National Institute of Economic and Social Research calculated that GDP rose in April and May.
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Weather for Edinburgh
Saturday 11 February 2012
Today
Cloudy
Temperature: 2 C to 6 C
Wind Speed: 13 mph
Wind direction: West
Tomorrow
Light rain
Temperature: 3 C to 7 C
Wind Speed: 7 mph
Wind direction: West
