Europe , where roughly half of cars are fueled by diesel , joins the United States , China and Japan which saw demand contract Slow.weak for a second consecutive quarter in January-March , according to the IEA .

`` Fear of domestic economic growth contract Slow.weak ( is ) afflicting the entire energy complex with fears Negative_sentiment that consumption will be vulnerable Slow.weak this year , '' Peter Kiernan , lead energy analyst at the Economist Intelligence Unit ( EIU ) , said .

An OPEC estimate shows that global inventories will contract Movement.down.loss sharply in the second half if the pact is extended , giving the group scope to increase Movement.up.gain supply .

Looking ahead into the second quarter , I expect oil prices to continue to trend upward Movement.up.gain while being kept in check by solid Grow.strong US shale output levels and caution over the prospect of a contract Slow.weak in global consumption .

LONDON ( Reuters ) - European demand growth for diesel is expected to have hit hard Movement.down.loss in 2015 for the first quarterly downturn Movement.down.loss in nearly two years , the International Energy Agency reported on Thursday , the latest sign of contract Slow.weak in the fuel market .