Oil demand set to increase in 2012, IEA says

[xchrom]

http://www.bbc.co.uk/news/business-14133789

Global oil demand will increase further next year, the International Energy Agency (IEA) has predicted.

The IEA, which represents the main oil consuming nations, said the increase in crude usage would continue to be driven by emerging economies.

It estimates that demand will grow by an average of 1.47 million barrels a day in 2012, up from the current 2011 average daily growth of 1.2 million.

Last month, IEA members released oil stocks to try to reduce prices.