Opec sees higher 2010 oil demand growth
TVNZ
--
Global oil demand will rise more quickly than expected in 2010, Opec says, increasing the need for crude from the 12-member group which meets to set policy next week.
Opec joins the US government's forecaster in raising oil demand estimates this week. Still, Opec's outlook remains conservative and it is widely expected to leave output policy steady when it meets on March 17.
Demand will rise by 880,000 barrels per day (bpd) in 2010 to average 85.24 million bpd, the Organization of the Petroleum Exporting Countries said in a monthly report. The growth rate is up 70,000 bpd from the previous forecast.
Read the Full Article