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Opec increases 2010 oil demand forecast

Opec said in a report on Wednesday that oil demand will grow at 900,000 barrels per day in 2010.


March 10, 2010 4:39 by

The Organization of Petroleum Exporting Countries (Opec) said in a report on Wednesday that oil demand will grow at 900,000 barrels per day in 2010, an increase of 100,000 barrels per day from its previous forecast, reports the Associated Press.

However the body warned that recovery in demand was linked to that of the global economy. “The [governments’] stimulus plans have already done a great job of jump-starting many sectors of the economy, including energy,””Opec said in its report. “However, questions remain as to how long governments will be able to afford supporting their economies. Should this support diminish, then world oil demand would of course be impacted,” the body said.


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