IEA: Global oil demand revised upward on stronger data

03/24/2014
Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for the year, the International Energy Agency said in its most recent monthly Oil Market Report. This estimate is 45,000 b/d above last month's estimate, as December demand exceeded expectations. Global oil consumption is set to rise by 1.4 million b/d (+1.5%) in 2014 to 92.7 million b/d, 90,000 b/d higher than the agency's previous report, with all of the growth coming from countries outside the Organization for Economic Cooperation and Development. However, the gain of non-OECD demand reflects a slower growth rate than seen in recent years. The ...
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