Baku, Azerbaijan, May 13
By Aygun Badalova - Trend:
International Energy Agency (IEA) forecasts global oil demand to increase by 1.1 million barrels per day (bpd) to 93.6 million bpd.
Global oil demand growth stood at 0.7 million bpd in 2014, according to the IEA's oil market report.
The forecast for 2015 is unchanged since last month as an improving economic outlook for Europe and a cold winter lift projections of OECD demand but offset reduced expectations for the FSU, the Middle East and Latin America, according to the IEA.
IEA said that global oil supply growth remained at a steep 3.2 million bpd year-on-year in April.
At 95.7 million bpd, total oil supplies were flat from March as higher OPEC output offset a drop in non-OPEC, the report said.
Non-OPEC supply growth for 2015 is projected by the IEA at 830,000 bpd, up by 200,000 bpd since last month's report.
OPEC oil supply rose by 160,000 bpd to 31.21 million bpd in April - the highest since September 2012, and nearly 1.4 million bpd above a year earlier - as Iraq and Iran boosted output and top exporter Saudi Arabia held flows above 10 million bpd, according to the IEA's report.
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