Aug. 12 (Bloomberg) -- The International Energy Agency raised its global oil demand forecasts for this year and next, citing accelerating industrial activity in China, the world’s fastest-growing consumer of crude.
The world will need an average of 85.25 million barrels of oil a day next year, 70,000 barrels a day more than previously estimated, the adviser to 28 nations said in its monthly report today. Demand growth next year at 1.6 percent will be lower than earlier forecasts after the outlook for 2009 was also increased. The agency boosted predictions for supply from outside OPEC.
http://www.bloomberg.com/apps/news?pid=20601072&sid=apEZBQv_JC5Q
Let me ask that question again, with most people are highly skeptical of sustainable global recovery, do you think they are preparing for 85.25 million bpd oil a day ?
After all, with hig hue and cry, oil producers were able to push it 86-87 million in 2007, soon a little bit of news like Nigeria pipeline attack or some plants caugh fire, fear of terrorist threat will move crude oil price again?
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