India, Sept. 11 -- French stocks recovered from recent losses and gained some ground in positive territory on Friday as oil prices fell sharply after the International Energy Agency (IEA) lowered its global oil demand forecast for the year. However, persisting worries about Middle East tensions limited market's upside.
The IEA now expects world oil demand to drop by 2.5 million barrels per day this year, compared to its previous forecast of a 1.6 million bpd decline. The agency expects oil supply to decline by 5.7 million bpd this year.
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