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IEA raises 2010 oil demand growth, trims 2011

Overall global oil demand will still be higher next year.


November 12, 2010 11:53 by

Global oil demand will accelerate for the rest of the year on rising consumption in developed industrial economies but the resurgence is likely to be transient, the International Energy Agency (IEA) said in its monthly report on Friday.

The IEA lifted its 2010 oil demand growth forecast by 190,000 barrels per day (bpd) to 2.34 million bpd from its previous report but trimmed slightly its 2011 forecast.

Overall global oil demand will still be higher next year.

(Reporting by Emma Farge; editing by William Hardy)


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