Global oil demand seen rising in 2010

By: Our Staff Reporter | February 11, 2010, 8:22 pm |
World oil demand will rise this year due to growing economic activity in developing countries in Asia, the International Energy Agency said Thursday as it bumped up its forecasts. The Paris-based IEA, which advises oil-consuming countries, predicted in its monthly report that oil demand will average 86.5 million barrels a day this year, or 1.6 million barrels a day more than in 2009. The IEA's previous report, in January, had estimated daily demand in 2010 of 86.3 million barrels. The estimate for 2009 was unchanged at 84.9 million barrels a day, the IEA said.

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