The world's daily demand for oil will reach 85.4 million barrels this
year, up 1.2 million from 2006, said the Organization of Petroleum Exporting
Countries' (OPEC) Secretariat yesterday in its monthly report.
The estimate remained unchanged from that of the April
report.
However, the cartel's prediction for global economic growth stood at 4.8
percent, up 0.1 of a percentage point from last month's figure.
Although oil demand remains robust in North America, global oil demand was
slightly lower in April than in March, the report said.
The cartel's average price for a basket of 11 crudes reached US$63.39 a
barrel in April, up 4.92 dollars from one month earlier.
