US Energy Information Agency Puts up Oil Prices Forecast Almost by 11%
Azerbaijan, Baku, 11 June / corr. Trend A. Badalova/ The Energy Information Agency (EIA) of the United States has put up the forecast of the American WTI oil prices by $12 a barrel up to $122 for 2008, as a result of the increase in the oil demand by 1mln barrels a day worldwide.
The further high demand for energy and unstable supplies by some oil producing regions will further contribute to the price rise, EIA said to Trend on 11 June.
The worldwide demand for oil in 2008 will total 86.38mln barrel a day, and 87.7mln a barrel a day in 2009.
According to EIA, in 2009, the average prices of WTI oil can increase by $4 a barrel up to $126 a barrel against $122 for barrel in 2008.
The oil demand in the countries, which are not included in the Organization for Economic Cooperation and Development (OECD), will go up by 1.2mln barrels a day in 2008 up to 37.86mln barrel a day due to China, India and Middle East, EIA said. The oil demand in OECD will drop by 240,000 barrels a day in 2008 up to 48.71mln, and there will be small rise up to 48.79mln barrels a day in 2009.