IEA: Growth in oil demand to reach 1.5m bpd in 2012
World oil demand will increase by 1.5 million barrels per day up to 91 million barrels per day in 2012. These key forecasts are contained in an International Energy Agency (IEA) report on oil market.
The demand will increase mainly at the expense of non-OECD members.
World oil demand in 2011 is forecasted at 89.5 million barrels per day (increased by 1.2 million bpd), or 0.2 million barrels per day more than forecasted by the agency last month.
The IEA estimates that the volume of world oil supplies increased by 1.2 million barrels per day up to 88.3 million bpd in June. OPEC oil supplies increased by 0.8 million up to 30 million barrels per day.
IEA predicts oil supplies by non-OPEC members to the amount of 53.1 million barrels per day in 2011 and 54 million barrels per day in 2012.
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