IEA: World Oil Demand To Grow By 6mn b/d In 2012-17

Published on Tuesday, 16 Oct 11:59 am

Rising production from independent producers will account for the bulk of the 6mn b/d growth in world oil demand over the next five years, leaving the call on OPEC  oil to grow by just 860,000 b/d over the entire forecast period, the IEA said Friday in its latest medium-term oil market outlook. World Oil Demand is set to grow steadily from 89.79mn b/d in 2012 to 95.68mn b/d in 2017, an increase of 5.99mn b/d over the five years. But non-OPEC  production is also expected to increase steadily over the forecast period, from 53.22mn b/d to 57.53mn b/d in 2017.

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