IEA Cuts Oil Demand; Crude, Gold Rise

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The International Energy Agency revised its forecast for global oil demand today, cutting its outlook by 50,000 barrels per day for 2011 and by 210,000 barrels per day from 2012. The IEA now anticipates oil demand of 89.2 million barrels per day in 2011, just 1 million more than in 2010.