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Oil demand to rise as global economy recovers, energy watchdog says

Posted on 22 January 2014

International Energy Agency (IEA) forecasts growth in oil consumption of 1.3m barrels a day, with demand met from production by the US and Opec countries. Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the United States reaches record highs, the west’s energy watchdog said on Tuesday.
The International Energy Agency (IEA) said world oil consumption would increase by 1.3m barrels per day (bpd) this year, 50,000 bpd higher than previously forecast……………………………..Full Article: Source


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