UPDATE 2-U.S. EIA raises 2010 world oil demand outlook-EIA

Tue Nov 10, 2009 6:59pm GMT
 
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* World oil demand to rise 1.26 million bpd in 2010

* U.S. oil demand to rise 290,000 bpd in 2010

* Rise in oil demand will lead to tighter oil market

(Recasts, adds details about oil supply)

By Ayesha Rascoe

WASHINGTON, Nov 10 (Reuters) - Rebounding Asian economies will push global oil demand next year higher than previously expected, the U.S. government said on Tuesday.

In its new monthly energy forecast, the Energy Information Administration said it expects 2010 world oil demand to rise 1.26 million barrels per day from a year earlier. Last month the agency had projected a smaller increase of 1.1 million bpd.

"China and other Asian countries outside of the OECD continue to lead a global economic and oil market turnaround," the EIA said.

The petroleum demand forecast for China in 2010 was revised up to 8.66 million bpd from a previous forecast of 8.54 million bpd.  Continued...

 

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