DOHA (Reuters) – Global oil demand will grow 700,000 barrels per day (bpd) in 2010, OPEC’s Secretary-General Abdullah al-Badri said in a speech delivered on his behalf on Tuesday.
China and India will lead global economic growth next year, with the producer group forecasting world GDP growth at 2.7 percent next year, up from an earlier forecast of 2.3 percent in July, he said in the text of a speech.
“There are signs that overall global demand contraction will ease in the fourth-quarter,” Badri said.
“The consensus is that oil demand growth will return after two full years of contraction.”
Oil demand growth will gradually rise to 1.2 million bpd by 2013, he said.
“Most of this demand growth will again be in non-OECD countries, with transportation, industrial and petrochemicals leading the way,” Badri said.