London-The International Energy Agency March 12 raised its estimate of world oil demand this year, confirming that demand is picking up albeit entirely due to growth in developing countries, with Asia alone representing over half of the increase.In its latest monthly report, the IEA revised up by 70,000 b/d both its 2009 and 2010 oil demand estimates on higher than expected non-OECD data, partly offsetting "persistently weak" OECD demand figures.
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