Azerbaijan, Baku, April 11 / Trend A. Badalova /
Global oil demand will increase by 795,000 barrels per day (bpd) to 90.6 million bpd in 2013, the International Energy Agency's (IEA) report on oil market published on Thursday, says.
According to the report, the forecast of global demand growth for 2013 is little changed following slightly lower-than-expected deliveries in the first quarter of 2013.
"A projected contraction in the Organisation for Economic Co-operation and Development (OECD) demand of 480,000 bpd, led by a 340,000 bpd decline in Europe, partially offsets growth of 1.28 million bpd elsewhere," the report said.
According to the IEA's estimates, global oil supply decreased by 120,000 bpd in March on lower OPEC output.
The agency expects non-OPEC supply to average 54 million bpd in the first quarter of 2013, which is 650,000 bpd more than in the same period of last year and 240,000 bpd less that in the fourth quarter of 2014.
For 2013 as a whole, IEA predicts non-OPEC supply to increase by 1.1 million bpd to 54.4 million bpd.
The IEA's estimates show that OPEC oil supply decreased by 140,000 bpd to 30.44 million bpd in March due to disruptions in Nigeria, Libya and Iraq.