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IHS CERA: World oil demand set to rise next year

09/14/2009
By Paula Dittrick
World oil demand is set to grow next year for the first time since 2007 and is expected to reach pre-recession levels by 2012, IHS Cambridge Energy Research Associates said in its quarterly World Oil Watch report.IHS CERA expects oil demand growth to rise by 900,000 b/d in 2010 and resume its 2007 high of 86.5 million b/d by 2012, which would mark a 5-year turnaround.Oil demand dropped by 2.8 million b/d to reach 83.8 million b/d in 2009. The last time that the world experienced such a severe decline in oil consumption was in the early 1980s, and it took 9 years for demand to return to the 1979 high."There are a lot of questions as to whether things will be different this time in ter...
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