OPEC

World oil demand will dive by a hefty 2.4 million barrels per day in 2009, the International Energy Agency said on Friday, citing the impact of prolonged economic recession on energy use.

Oil fell below $50 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

Oil fell to around $51 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

Oil fell to around $51 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

Oil fell to around $51 a barrel on Monday after the International Energy Agency cut its forecast for oil demand, overshadowing data showing Chinese crude imports rose to their second highest ever.

Oil prices rose nearly 5.8 percent on Thursday, fueled by a rally on Wall Street and data showing that the number of workers filing new claims for unemployment benefits fell last week.

Oil fell to around $48 a barrel on Wednesday after U.S. data showing swollen crude stocks, and analysts said there was little sign global demand would soon rise to soak up the excess.

More U.S. data showing swollen crude stocks pushed oil below $48 a barrel on Wednesday, and analysts said there was little sign demand would soon rise to soak up the excess.

Oil fell by over a dollar below $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.

Oil fell by over a dollar toward $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.

Oil fell by over a dollar toward $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.

Oil fell nearly $2 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

Oil fell nearly $2 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

Oil fell below $50 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

Oil fell toward $50 a barrel on Tuesday, paring early gains after European equities turned lower, as investors continued to track share movements to try and gauge the strength of the global economy.

Oil was steady around $51 a barrel on Tuesday, awaiting direction from stock markets and U.S. oil inventories after a near 3-percent loss on Monday when Wall Street tumbled.

Oil prices fell nearly 3 percent on Monday to near $51 a barrel as U.S. stock markets sputtered on worries over the banking sector and the dollar gained against the euro.

Oil prices fell more than 4 percent on Monday to near $50 a barrel as U.S. stock markets sputtered on worries over the banking sector and the dollar gained against the euro.

Oil prices fell toward $51 a barrel on Monday as stock markets sputtered, erasing early gains on expectations that rich nations' efforts to stimulate their economies may help end the global downturn sooner than expected.

Oil prices fell below $51 a barrel on Monday as stock markets sputtered, erasing early gains on expectations that rich nations' efforts to stimulate their economies may help end the global downturn sooner than expected.

Oil prices rose toward $53 per barrel on Monday, buoyed by expectations that rich nations' efforts to stimulate their economies may help end the global downturn sooner than expected.