World oil demand to hit record high this year - IEA

Friday, April 16, 2010

Global oil demand will hit a record high this year, the International Energy Agency (IEA) said on Tuesday, revising up consumption estimates as the world economy recovers from recession.

The Paris-based adviser to industrialised economies raised its forecast for world oil demand growth this year to 1,67-million barrels per day (bpd), up 100 000 bpd.

The agency said in its monthly Oil Market Report that world oil demand would reach an average of 86,60-million bpd this year, up from 84,93-million in 2009.

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