IEA, Opec Fail to Agree on How Much Global Oil Demand Will Grow

摘要

The International Energy Agency (IEA) and Opec both agree in their latest monthly reports that global oil demand rose in 2010 and will continue to do so in 2011 but they disagree by exactly how much. The IEA was more bullish in its demand fore- casts, estimating that global demand rose by 2.8 million b/d in 2010 and will rise by another 1.5 million b/d in 2011 for an average of 89.3 million b/d, peaking at 90.1 million b/d by the fourth quarter. The IEA bases its estimates in part on general economic forecasts by the International Monetary Fund (IMF), which said that the global economy grew by 4.8% in 2010 and will do so by another 4.3% in 2011, as GDP growth in the OECD is expected to stabilize while developing countries, led by China, will continue to surge.