World oil demand will rise more slowly than expected this year, Opec said on Thursday, hit by the euro-zone debt crisis and high retail prices.

In a monthly report, the Organisation of the Petroleum Exporting Countries (Opec) cut its forecast for world oil demand growth in 2012 by 120,000 barrels per day (bpd) to 940,000 bpd.

'Worries about the US economy, along with the EU debt problem, are adding more uncertainty to world oil needs over the next 12 months,' the report said. 'Firming retail petroleum prices are expected to have a negative impact on oil demand across the globe.' – Reuters