IEA expects rise in world demand by 1.4 million bpd in 2011
PARIS – World oil demand in 2011 will increase by 1.4 million barrels per day up to 89.4 million barrels per day. These forecasts are contained in the report of the International Energy Agency (IEA) on the oil market.
According to the report, despite the fact that the IEA's forecasts on global demand growth for hydrocarbons for 2011 remained virtually unchanged, the high oil prices entail risks of decrease.
According to IEA's estimates, world oil supply will increase by 0.2 million barrels per day up to 89 million barrels per day in February. The oil supplied by countries non-OPEC members increased by 0.3 million barrels per day up to 53.2 million barrels per day.
IEA forecasts an increase in oil supplied by non-OPEC members by 0.1 million bpd up to 53.6 million barrels per day.
According to IEA estimates, OPEC oil production dropped by 95,000 bpd up to 30.05 million barrels per day in February. According to the report, monthly lack of deliveries of Libyan oil to the amount of 200,000 barrels per day was partially compensated by high production in the Gulf countries.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!