its forecast for world oil consumption growth for 2008 and 2009 in response to slumping economic conditions. In its latest forecast, the IEA said it expects world demand to grow by 120,000 b/d in 2008 to 86.2 million b/d, and by 350,000 b/d in 2009 to 86.5 million b/d. Last month, the Paris-based agency had…