World oil demand to resume growth in 2010: report
Friday, 11 September 2009
HOUSTON, Sept 10 (Xinhua): World oil demand will grow next year for the first time since 2007 and return to pre- recession levels by 2012, according to a newly released report.
World oil demand is expected to grow by 900,000 barrels to 84.6 million barrels per day (mbd) in 2010, and return to its 2007 high of 86.5 mbd by 2012, the report released Tuesday by IHS-Cambridge Energy Research Associates, a U.S. energy information provider, said.
Oil demand dropped by 2.8 mbd from its 2007 high to 83.8 mbd in 2009. The last time that the world experienced such a severe decline in oil consumption was in the early 1980s and it took nine years for demand to return to the 1979 pre-recession high.
World oil demand is expected to grow by 900,000 barrels to 84.6 million barrels per day (mbd) in 2010, and return to its 2007 high of 86.5 mbd by 2012, the report released Tuesday by IHS-Cambridge Energy Research Associates, a U.S. energy information provider, said.
Oil demand dropped by 2.8 mbd from its 2007 high to 83.8 mbd in 2009. The last time that the world experienced such a severe decline in oil consumption was in the early 1980s and it took nine years for demand to return to the 1979 pre-recession high.