UPDATE 3-IEA sees global oil demand bouncing back in 2010

Fri Jul 10, 2009 1:01pm BST
 
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* World oil use to rise by 1.7 pct in 2010 led by non-OECD

* IEA keeps 2009 oil demand estimate steady at 83.8 mln bpd

* 2009 non-OPEC supply estimate raised by 330,000 bpd

* OPEC compliance with production curbs falls to 68 pct

(Updates detail, prices)

By Barbara Lewis and Christopher Johnson

LONDON, July 10 (Reuters) - Global oil demand will rebound 1.7 percent next year, led by rising consumption in emerging economies as the developed world recovers from recession, the International Energy Agency said on Friday.

But the IEA, adviser to 28 industrialised economies, still predicted demand would shrink this year and said the need for OPEC oil would be limited.

It forecast world oil consumption next year would reach 85.2 million barrels per day (bpd), up from 83.8 million this year. The demand outlook for this year was "effectively unchanged" -- down 2.9 percent, or 2.5 million bpd compared with last year.  Continued...

 

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