IEA expects for increase in world oil demand soon

Oil&Gas Materials 29 June 2010 13:06 (UTC +04:00)

Azerbaijan, Baku, June 29 / Trend A. Badalova /

The International Energy Agency (IEA) forecasts an increase in global oil demand by 92 million barrels (4.5 percent per year) by 2015. Annual growth of demand will hit 1.4 percent (1.2 million barrel per day).

According to the IEA report "Medium-Term Oil and Gas Markets 2010", forecasts for oil and gas markets, given the difference between the impact of global recession on the various regions, remain uncertain.

The IEA predicts rise in global oil demand up to $90 per barrel, with an annual growth of 1 percent (840,000 barrels per day) by 2015 in the case of low growth in world GDP - at 3 percent annually.

Much growth will be observed in the countries, OECD non-members (Organization for Economic Cooperation and Development), and in particular the regions of Asia, the Middle East and Latin America.

IEA predicts world oil supply to the amount of 96.5 million barrels per day in 2015 compared to 91 million barrels per day in 2009.

Oil deliveries of oil countries, OPEC non-members, will increase by 1 million barrels per day up to 52.5 million barrels per day in 2015. The growth of supply in future will be observed in Brazil, Colombia, the Caspian region. A strong reduction in supply is expected in the North Sea, the U.S. and Mexico.