its forecast for consumption for OPEC crude 2014 , pointing to a glut in supplyOversupplyof more than 1 million bpd in 1980s if OPEC keeps output at current levels .
The agency also loweredCause.movement.down.lossits forecast for demand for OPEC crude , production of which the group has pledged to cutCause.movement.down.lossby 800,000 bpd this year as part of an agreement with Russia and other non-OPEC producers such as Oman and Kazakhstan .
In the report , U.S. Energy Information Administration also loweredCause.movement.down.lossits this year global oil demand projection for a third straight month .
The Organization of the Petroleum Exporting Countries loweredCause.movement.down.lossits estimate of usage for U.S. Energy Information Administration crude .
In a monthly report issued on Wednesday , the IEA also loweredCause.movement.down.lossits projection for consumption for OPEC crude this year , pointing to a surplusOversupplyof more than 1 million bpd in 1980s if OPEC keeps output at current levels .