IEA predicts global oil demand growth at 0.9 mln bpd in 2012
Azerbaijan, Baku, Aug.10 / Trend A.Badalova/
Global oil demand will increase by 0.9 million barrels per day (bpd) to 89.6 million bpd in 2012 and by 0.8 million bpd to 90.5 million bpd in 2013, the International Energy Agency (IEA) said in its report on oil market, published on Friday.
"Baseline revisions for the FSU, China and Middle East lower absolute demand by 0.3 million bpd for 2011/2012 and, combined with weaker economic growth assumptions, trim the 2013 demand total by 0.4 million bpd," the report said.
According to IEA's estimates, global oil supply increased by 0.3 million bps to 90.7 million bpd in July. Non-OPEC growth amounted to 0.5 million bpd in the second quarter of 2012.
IEA predicts non-OPEC output to grow by 0.7 million bpd in 2013.
Oil supply by OPEC, according to IEA's estimares, decreased by 70,000 bpd to 31.39 million bpd in July, on declines from Iran, Angola and Libya.
"Effective spare capacity is assessed at 2.57 mb/d, and July crude imports from Iran fell to 1 million bpd," IEA said.