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OPEC: World oil demand to rise slightly in 2010

11/23/2009
By Eric watkins
The Organization of Petroleum Exporting Countries reported that the world's economic recovery will drive global oil demand to 85.07 million b/d in 2010, an increase of 0.9%.In its latest monthly report, OPEC forecast that the world economy will grow 2.9% in 2010 after a contraction of 1.1% this year, with the majority of growth coming from emerging Asian economies including China and India.OPEC forecasts that oil demand next year would grow 3.7% in China and 3.34% in the Middle East, while falling 1.25% in Western Europe. Meanwhile, it said world oil demand in 2009 was expected to drop 1.63% year-on-year to 84.31 million b/d.In its report, OPEC also said world oil demand was unlikely to r...
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