2010

World Oil Demand Will Be Lower Than Expected in 2011

World demand for oil will increase in the final months of 2010, but will be lower than expected in 2011, The International Energy Agency said. The IEA cut its forecast for 2011 demand to 1.21 million barrels per day, from 1.27 million bpd, Reuters reported. The agency also increased its estimate for 2010 by 260,00 bpd, citing factors such as heating oil restocking.