World oil demand to up 1.7 percent in 2010: IEA
Azerbaijan, Baku, July 10 / Trend , A.Badalova/
The International Energy Agency (IEA) forecasts world oil demand will up by 1.4 million barrels per day (1.7 percent) to 85.2 million in 2010. The IEA did not change the world oil demand for 2009 in the amount of 83.2 million barrels per day which is by 2.5 million barrels per day less than the demand in 2008.
The IEA report says growth in demand will be observed, particularly in the countries of the Organization for Economic Cooperation and Development (OECD) in 2010.
The IEA forecasts oil supplies by the non-OPEC countries will increase by 190,000 barrels and reach 50.8 million barrels per day. This volume is by 33,000 barrels per day more than the volume forecast by the IEA last month.
Under the forecasts, the volume of these countries' oil supplies will up by 410,000 barrels and reach 51.2 million barrels per day. The growth will be observed due to increase in oil supplies by Azerbaijan, Brazil, the world biofuel supplies and Canadian oil sands.
Despite break in crude supplies to Nigeria OPEC oil deliveries increased by 75,000 barrels per day and amounted to 28.7 million barrels per day in June, the IEA reported. The volume of oil production by 11 OPEC countries amounted to 26.2 million barrels per day in June which is by 68 percent corresponds to the quota set by the cartel.
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