Worldwide oil demand to increase again in 2001

Click here to enlarge imageContinued growth in the global economy will push up worldwide demand for oil again this year.Recent data from the International Energy Agency project demand increases in all major regions except the former Soviet Union (see tables). Biggest percentage increases will be in China 6%, other Asia 5%, and the Middle East 4%.IEA expects demand worldwide to grow by 2.6% in 2001 to an average of 77.5 million b/d. The increase follows gains of 1.1% in 2000 and 1.6% in 1999.Production increases in North America and the FSU will raise supply from outside the Organization of Petroleum Exporting Countries to an average for the year of 46.7 million b/d, compared with 45.9 m...

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