Two energy authorities reduced their crude oil demand outlooks in their latest reports. The U.S. Energy Information Administration cut its demand growth outlook by 70,000 bpd in its latest Short-Term Energy Outlook, and the International Energy Agency lowered its own by 100,000 bpd. At first glance, the numbers are not particularly impressive. A closer look, however, reveals these numbers support a growing worry about a slowdown in global oil demand that has already begun weighing on prices and will likely continue to do so in the observable future.…
