Oil prices declined in Asia today after the International Energy Agency lowered its global demand forecast while data showed an increase in US inventories. New York's main contract, light sweet crude for delivery in April dropped 25 cents to 92.27 dollars a barrel and Brent North Sea crude for April delivery shed 29 cents to 108.23 dollars. The IEA yesterday slashed its global forecast for growth in world oil demand for the second straight month, citing uncertainty from the US budget talks, sluggish Chinese business activity and unemployment in Europe.