China forces IEA to boost oil demand forecast

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Global demand growth for 2010 is now at 1.6 million b/d, with the rise in growth coming entirely from non‐Organisation for Economic Co-operation and Development (OECD) countries, according to the agency's latest Oil Market Report.

The agency said data showed a "yet again higher-than-expected" rise in demand from China and other Asian countries. It sees Chinese crude demand in 2010 hitting 8.9 million b/d, up 400,000 barrels a day from 2009 and 75,000 b/d higher than its January forecast.

"The I

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