Oil demand seen rising 0.9mbd globally
- Middle East: Tuesday, September 04 - 2012 at 12:01
According to a report by the National Bank of Kuwait (NBK), global oil demand is expected to rise by 0.8 - 0.9 million barrels per day, or around 1%, in 2012, above last year's increment though below the historic average, Saudi Gazette has reported. Demand in non-OECD countries is seen rising by around 1.2 mbpd, or 2.9%, while OECD demand is expected to fall by up to 0.4 mbpd, or 1%, the report said. A modest pick-up in demand is seen in 2013, though the structure of that growth, falling OECD demand more than offset by growth in emerging markets, remains the same. Demand growth is set to stay below its pre-credit crunch trend, NBK said.
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