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The International Energy Agency raises the global crude oil demand forecast
Headquartered in Paris, France, International Energy Agency released a report June 10 that the 2010 global oil demand is estimated to be 8,640 million barrels daily, increasing by 6 million barrels a day compared with the previous forecast.
The report said that the whole economic data of Economic cooperation and Development Organization member nation was better than anticipated. Besides, with the strong economic growth of China and other developing countries, average daily of global oil demand in 2010 is expected to increase 170 million barrels than 2009, The increase is about 2%.
However, the global oil supply is in condition of imbalance. The International Energy Agency thought International Energy Agency believed that the Organization of Petroleum Exporting Countries (OPEC) maintained its expecting global oil demand and had no intention to increase supply. While the crude oil daily output of other oil producers outside OPEC is expected to reach 5230 million barrels in 2010, increasing 100.000 barrels compared with that of 2009.
In May, because the OPEC member reduced the output, the global crude oil daily average supply dropped to 86,300,000 barrels, reducing 575,000 barrels.
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