WASHINGTON, due to global economic growth is expected to decline 0.8 percent this year, the U.S. Energy Information Administration (EIA) 4 on 14 day of its global oil demand forecast for this year to cut the daily 18 million barrels a day, decreased to 84.09 million barrels / day.
U.S. Energy Information Administration in its latest monthly energy forecast that due to global economic growth will resume in 2010 to 2.6%, therefore, the Department expects global oil demand in 2010 than its March forecast of 70,000 barrels per day increase, reaching 85,220,000 barrels / day.
In addition, the U.S. Energy Information Administration is expected to Organization of Petroleum Exporting Countries (OPEC) oil production this year than the earlier estimate of 28.78 million barrels / day less 130,000 barrels / day.
U.S. Energy Information Administration said that OPEC members to cut oil production has led to reduction of world oil supply. Non-OPEC oil producers of oil this year, the average daily output of 49.77 million barrels a day for more than the United States Energy Information Administration last forecast by 1 million barrels / day.
U.S. Energy Information Administration also said that non-OPEC oil producers to increase oil production is limited and the prospects for the global economy began to recover later this year is supporting a major factor in rising oil prices. Slowdown due to global economic growth this year, the average price of U.S. crude oil is expected to be 53 U.S. dollars per barrel in 2010 to 63 U.S. dollars a barrel.
Source: www.in-en.com Apr. 16, 2009
