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Oil demand to rise in 2010, say analysts
- Middle East: Monday, July 27 - 2009 at 14:52
Oil consumption worldwide will rise again in 2010 as a recovery in the global economy boosts demand, according to a poll of oil-tracking analysts and organisations conducted by Reuters. World demand has fallen by 2.5% since hitting 86.2 million bpd in 2007 due to high oil prices and the economic crisis. Oil demand is predicted to rise by 900,000 barrels per day (bpd) to 84.9 million bpd in 2010, the poll of nine forecasters found. However, the expected increase of 1.1% worldwide is unlikely to drain away all the excess supplies, despite the slow growth in production outside OPEC, Reuters reported.
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