18 July 2005, 17:42  OPEC sees 2006 world oil demand up 1.54 mln barrels or 1.85 pct to 85 mln bpd

The Organisation of the Petroleum Exporting Countries said in its monthly report that it expects global oil demand in 2006 to grow by 1.54 mln barrels per day (bpd) or 1.85 pct from 2005 to 85.2 mln bpd OPEC said demand will be led by developing countries, up 0.6 mln bpd; OECD demand, up 0.5 mln bpd; and Chinese demand, up 0.4 mln bpd For 2005, OPEC has cut its forecast for growth in demand in the third and fourth quarters by 600,000 bpd. For the year as a whole, OPEC now expects demand to rise by 1.62 mln bpd or 2 pct to 83.66 mln These figures are slightly below the International Energy Agency's (IEA's) forecasts last week. The IEA predicted global crude oil demand of 83.88 mln bpd for 2005 and 85.6 mln bpd for 2006

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