The International Energy Agency, which monitors oil markets on behalf
of industrialized nations, is forecasting average global oil demand of
86.1 million barrels a day this year, up 2 percent from last year. That
is twice as fast as the 0.9% growth recorded in 2006, compared with
2005.
Demand is expected to accelerate further in the fourth quarter to 88
million barrels a day, an unprecedented quarterly volume and up 2.6
million barrels a day from the year-earlier period. In the second
quarter, global oil demand already has risen at a 1.7% rate, more than
double the 0.8% a year ago, according to forecasts and data compiled by
the IEA.
