Paris - Because of the worsening economic outlook, the International Energy Agency (IEA) on Friday revised downward its global oil demand for 2009.

If the forecast contained in the IEA's monthly Oil Market Report is confirmed, it would mean that demand for oil around the world would shrink for two consecutive years, the first time this has occurred since 1982 and 1983.

"Global GDP growth has been roughly halved to 1.2 per cent, given the worsening outlook in OECD and non-OECD countries alike," the IEA said. "Global oil demand is now projected at 85.3 mb/d (million barrels per day) in 2009 (-0.6 per cent or -0.5 mb/d year-on-year and 1.0 mb/d lower than our last report)."

The IEA's estimate for 2008 remained broadly unchanged at 85.8 mb/d, or 0.3 per cent less than in 2007.

"The expected two-year contraction in oil demand will be the first since the early 1980s," the IEA said.

Cold weather, the Russia-Ukraine gas crisis and the fighting in Gaza caused oil prices to rise briefly in early January. But the prices retreated under pressure from weak global refinery demand, among other causes, the IEA said.

Early Friday, the price of a barrel of light sweet crude stood at 35.44 dollars in New York, up a fraction over Thursday. (dpa)