Azerbaijan, Baku, Dec. 17 / Trend A.Badalova /
OPEC forecasts an increase in world oil demand in 2010 at 0.8 million barrels per day up to 85.13 million barrels per day. Last month, OPEC predicted growth in world oil demand at 0.73 million barrels per day.
The OPEC December report on the oil market says of the total oil demand in 2010, 45.61 million bpd falls on countries of the Organization for Economic Cooperation and Development (OECD), which is 0.13 million bpd lower than demand in 2009. According to OPEC projections, the U.S oil demand in 2010 would amount to 23.56 million bpd which is higher by 0.23 million bpd in 2009.
OPEC's forecast for world oil demand for 2009 remained unchanged. The cartel predicts drop in world oil demand at 1.4 million barrels per day up to 84.31 million barrels per day in 2009. Based on OPEC report, 2009 became one of the worst years not only for the world economy, but also for world oil demand.
Nevertheless, a recovery in oil demand will be observed in the fourth quarter as a consequence of improving the world business activity. "The growth in oil demand in OECD countries will help to increase world oil demand in the fourth quarter compared with the third at 0.6 million bpd to 85.33 million barrels per day," the report says.
Oil demand in OECD countries will fall by 1.86 million barrels to 45.73 million barrels per day in 2009.
Decrease in the U.S. oil demand this year, would amount to 0.85 million barrels per day. In 2009, the countries of the former Soviet Union are projected to consume 3.96 million barrels per day.
As stated in the report, the volume of world oil supply in November amounted to 85.59 million bpd, which is 290,000 million higher than the previous month. The share of OPEC oil supply in the global supply amounted to 34 percent.
Do you have feedback? Contact our journalist at: [email protected]