IEA revises China oil outlook for 2010

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Global oil demand has been revised upwards by 70,000 barrels per day (b/d) for both 2009 and 2010 on higher‐than‐expected non-Organisation for Economic Co-operation and Development (OECD) data, says the IEA in its monthly Oil Market report.

Global oil demand is now estimated at 85.0 million b/d in 2009, and is expected to rise to 86.6 mb/d in 2010.

"This year's global oil demand growth will be driven entirely by non‐OECD countries, with non‐OECD Asia alone representing over half of total growth,