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Global oil demand to grow by 1.24 million barrels per day (bpd) to 92.3 million bpd in 2014, as the global economy expands by 3.1 percent, the monthly oil market report of the analysts at the U.S. bank JP Morgan said, Trend news agency reported.

According to the analysts' forecasts, in 2014 oil demand in the countries of Organization for Economic Co-operation and Development (OECD) will amount to 45.8 million bpd, in non-OECD countries - to 46.2 million bpd.

In 2013, analysts expect global oil demand growth to recover to 960,000 bpd as emerging economies post somewhat stronger economic growth and Eurozone economies stabilize. According to the forecasts, global oil demand will amount to 91 million bpd compared to 90.1 million bpd in 2012.

According to the forecasts, in 2013, oil demand in the OECD countries will amount to 45.8 mln bpd, non-OECD countries - 44.9 mln bpd.

According to the forecasts, oil demand in Asia will be 30.4 million bpd in 2013 and 31.1 million bpd in 2014. Most of the oil demand will fell to China - 10.1 million bpd in 2013 and 10.5 million barrels per day in 2014.

OPEC oil supplies

JP Morgan analysts forecast a decrease in OPEC oil supply by 0.1 to 31.2 million bpd in 2013 and increase by 0.2 million bpd to 31.4 million bpd in 2014.

According to the analysts' estimates, OPEC production decreased by 0.3 million bpd to 36.7 million bpd in the fourth quarter of 2012.

According to the JP Morgan's analysts, oil supply by non-OPEC countries will rise by 1.3 million barrels to 51.6 million bpd in 2013 and by 1.1 million bpd to 52.7 million bpd in 2014.

According to the analysts' forecasts, oil production in the former Soviet Union (FSU) countries will amount to 13.6 million bpd in 2013 and to 13.7 million bpd 2014.