IEA
sees China, US pushing 2006 oil demand growth
By
Adam Plowright
AFP
PARIS
Petroleumworld.com 01 18 06
Demand for oil in China and the United States will drive a 2.2-percent
increase in global oil consumption this year and an anticipated
seasonal fall in demand in the second quarter looks uncertain,
the IEA said on Tuesday.
In 2006, global oil consumption is forecast to average 85.1 million
barrels per day, an additional 1.8 mbd compared with 2005, the
IEA said, keeping its estimate unchanged.
"Key factors underpinning this projection are a rebound in
Chinese demand growth and more robust US demand growth versus
a hurricane-affected 2005 baseline," the International Energy
Agency said in its monthly review of the oil market.
Demand in the US hit an all-time monthly high of 21.9 mbd in December,
growing by 1.7 percent compared with the same month in 2004, the
IEA said.
The agency, which advises 26 countries on energy policy, also
warned that a pattern of falling demand in the second quarter
of the year could also change this year as a result of developments
in the oil market.
A key change identified by the IEA was a trend in consuming countries
of keeping increased levels of inventories because of instability,
most recently in producing countries Iran and Nigeria.
AFP
01 17 06
Copyright
© 2006 AFP. All rights reserved
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