Baku – APA-Economics. PEC nudged up its world oil demand forecasts for 2013 and 2014 on Tuesday, citing improved economic sentiment in developed countries, including the United States and Europe, Daily News Egypt reported.
Demand will grow this year to 89.74 million barrels per day (mbpd), from 88.92 mbpd in 2012, the Organisation of Petroleum Exporting Countries said in its September report.
In August, it had predicted average demand at 89.71 mbpd for 2013.
For 2014, the cartel — which pumps about 35 percent of the world’s oil supply — saw world oil demand averaging 90.77 mbpd, compared to its earlier forecast of 90.75 mbpd.
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