IEA trims forecasts for global, Chinese oil demand growth

Sluggish global economic growth is crimping demand for oil, including in emerging market powerhouse China, the International Energy Agency said on Wednesday.

"Relatively sluggish macroeconomic conditions are expected to keep a lid on growth in 2013," the IEA said as it trimmed its forecast for oil consumption to expand by 785,000 barrels per day this year to 90.6 million barrels per day.