Oil demand is expected to increase next year by one million barrels per day due to signs of recovery in the global economy, Iran's OPEC governor said here on Wednesday.
The Mehr news agency quoted Mohammad-Ali Khatibi as saying that, "Considering the relative recovery of the global economy, it is expected that oil demand in the year 2010 will be increased between 500,000 and one million barrels."
"In the current year the oil demand was negative compared to the previous year, showing 1.5-2 million barrels decrease," he said.
Referring to the fact that the global storage of crude oil has mounted during recent months, he said oil producers are disinclined to sell their stock, hoping the rising prices will continue.
The comments were made after oil prices touched a 10-month high on Tuesday to reach near $75 per barrel.
OPEC has cut its total output by 4.2 million bpd in several stages since September last year to prevent falling oil prices, producing 24.8 million bpd as of January 2009.
Khatibi went on to say that the 13-member oil producer group would not slash output in the next OPEC meeting, Press TV reported.
Early this month, the Iranian official predicted oil prices to pass $80 a barrel by the end of the year.
Khatibi said "optimistic signs in the oil market" and "news over revival of the global economy" would push oil prices above $80 a barrel by January.