World Business – OPEC forecasts increase in oil demand in 2013

The world crude oil demand would remain stable in 2013 and reach 89.50 million barrels per day, up by 0.9 percent from 2012, the Organization of Petroleum Exporting Countries (OPEC) said on Wednesday.
In its monthly report, Vienna-based cartel said global crude oil demand was expected to reach an average of 88.68 million barrels a day in 2012.
Sluggish global economy and the fact that the growth of emerging economies continues to rely heavily on exports had been suppressing oil demands, according to the report.
In a previous report published in June, OPEC had predicted that the world crude oil demand would reach a daily average of 88.69 million barrels in 2013.
Wednesday’s report also forecast that the demand for OPEC crude oil would reach an average of 29.95 million barrels a day in 2012 and 29.60 million barrels a day in 2013, largely unchanged from its June projections.