Global oil demand to rise on non-OECD growth
The IEA says demand growth will rise by 1.4 million barrels per day
Global oil demand will rise by 1.5% next year, driven by economic growth in non-OECD countries, the International Energy Agency (IEA) said. In its July oil-market report the IEA said global oil demand growth will accelerate in 2015, rising by 1.4 million barrels per day (b/d) to average 94.1m b/d. Total global oil demand will average 92.9m b/d in the first quarter of 2015, before rising to a peak of around 95.3m b/d in the fourth quarter, the IEA said. This is up from an expected oil-demand growth rate of 1.2m b/d (1.3%) this year. The increase will be driven by growing demand from non-OECD countries, which will consume an extra 1.5m b/d in 2015, causing the total to rise to 48.2m b/d. The
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