Europe expects rise in world oil demand
Azerbaijan, Baku, Sept. 10 / Trend , A.Badalova/
European International Energy Agency (IEA) increased forecasts of the world oil demands by half a million barrels per day as in 2009, and in 2010, and to 84.4 million barrels per day and 85.7 million barrels per day, respectively.
The IEA September report on the oil market, published today on the official website of the agency, changes in forecasts are primarily connected with high demand, expected in the Asian countries outside the Organization for Economic Cooperation and Development (OECD) and the North American OECD countries.
"The world economy is stabilizing, but the oil demand in the OECD countries will remain weak by the end of the year," says the IEA report.
Under the IEA estimates, the volume of world supply in August fell by 400,000 barrels per day compared to the previous month and was 84.9 million barrels per day, which is associated with low levels of production in the non-OPEC countries.
The IEA forecasts these countries' supplies will be 51 million barrels per day in 2009 and 51.5 million barrels per day in 2010.
The volume of OPEC's oil supply, according to the IEA estimates, rose in August by 55,000 barrels and was 28.8 million barrels per day. Crude oil production in 11 OPEC countries last month increased by 80,000 barrels and was 26.3 million barrels per day that by 1.4 million barrels per day above the quota set by the cartel.