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OPEC Raises 2010 Oil Demand Forecast - ASHARQ AL-AWSAT English Archive
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CAIRO, (AP) — OPEC has raised its projections for oil demand growth this year by 100,000 barrels per day, but stresses that gains could be eroded if the U.S. government scales back on stimulus efforts before the country’s economy fully recovers.

The Organization of the Petroleum Exporting Countries said in a report released Wednesday that world oil demand was projected to climb to almost 900,000 barrels per day, or 100,000 barrels a day more than its February projection.

But the 12-member group that supplies about 35 percent of the world’s crude cautioned that the recovery was tied to that of the global economy. It warned that demand growth could falter should governments scale back on stimulus efforts too quickly.

OPEC is scheduled to meet March 17.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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