| World oil demand will rise much more than expected this year, the International Energy Agency (IEA) said on Thursday, in the latest sign that the collapse in oil prices is helping to boost fuel use. The agency, in a monthly report, raised its forecast for global oil demand growth in 2015 by 280,000 barrels per day (bpd) to 1.40 million bpd, bringing demand this year to almost 94 million bpd.
"Recent oil market strength of course partly stems from unexpectedly strong global oil demand growth," said the Paris-based IEA, which advises industrialised nations on energy policy. Oil prices have recovered this year after hitting a near six-year low close to $45 a barrel in January...............................................Full Article: Source
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