World oil demand will rise this year due to growing economic activity in developing countries in Asia, the International Energy Agency said Thursday as it bumped up its forecasts.
The Paris-based IEA, which advises oil-consuming countries, predicted in its monthly report that oil demand will average 86.5 million barrels a day this year, or 1.6 million barrels a day more than in 2009.
The IEA's previous report, in January, had estimated daily demand in 2010 of 86 no fax payday loan.3 million barrels. The estimate for 2009 was unchanged at 84.9 million barrels a day, the IEA said.
At the same time, the agency said that if recent upward revisions to global economic growth "fail to live up to expectations," oil demand in 2010 could be lower by around 400,000 barrels a day.
