Fast-growing nations to spur global oil demand in 2011: IEA - Economic Times

DUBAI: The world oil demand next year will be fueled by economic growth in fast growing countries like China and India, despite a drop in rich countries' appetite for oil, International Energy Agency has said.

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The Paris-based agency in its monthly report on the oil markets estimated the global oil demand in 2011 to rise by a daily 1.3 million barrels or 1.6 per cent, to average 87.8 million a day. The Paris-based agency in its monthly report on the oil markets estimated the global oil demand in 2011 to rise by a daily 1.3 million barrels or 1.6 per cent, to average 87.8 million a day. "Non-OECD Asia, the Middle East and Latin America will continue to command the lion's share of oil demand growth in 2011," it said in the report.

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