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IEA raises global oil demand forecast
- Middle East: Sunday, September 16 - 2012 at 10:38
The International Energy Agency (IEA) has raised its global oil demand forecast for this year and next after consumption in the US, Brazil and Canada rose more in 2011 than previously estimated, Bloomberg has reported. Global oil consumption is predicted to increase by 800,000 barrels a day, or 0.9%, in both 2012 and 2013, reaching 90.6 million a day next year, said the Paris-based adviser. Inventories have become "more comfortable," the IEA said, without specifying whether members should release emergency reserves to tame prices, a move discussed last month by leaders in the US, UK and France.
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StaffSunday, September 16 - 2012 at 10:38 UAE local time (GMT+4)
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