Last Updated :
12 March 2010 at 17:10 IST
Global oil demand likely to rise in 2010: IEA
MUMBAI (Commodity Online): Global demand for oil is expected to rise by 1.8% year-on-year or 1.6 million barrels a day to 86.6 million barrels a day in 2010, says a forecast from the International Energy Agency (IEA).
The IEA revised up by 70,000 barrels a day its forecast for global oil demand for both 2009 and 2010, citing higher-than-expected non-OECD data, which largely offset persistently weak OECD readings, said IEA in its monthly report.
After five consecutive quarters of decline, global oil demand began growing again on a yearly basis in the fourth quarter of 2009, said the report.
Growth has been led by liquefied petroleum gas and naphtha on the back of restocking in the petrochemical sector, the IEA said.
In recent days, the Organization of Petroleum Exporting Countries (OPEC) and the U.S. Energy Information Administration have also raised their forecasts for global oil consumption this year.
NCDEX SUGARM200JUL12 20 July 2012
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read:
