The International Energy Agency upped its global oil demand forecast for the year 2013 on higher demand expectations for China.
The IEA, in its monthly Oil Market Report released Friday, nudged up global oil demand projection to 90.8 million barrels per day (mbd) for 2013 , which is 240,000 bd more than forecast last month.
Commenting on the supply, the agency said global supplies fell by 170, 000 bd in December, to 91.2 mbd, even as non-OPEC production rebounded by 90,000 bd from the prior month to 54.2 mbd.
by RTT Staff Writer
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