OPEC Raises 2010 Demand Forecast

OPEC revised its 2010 global oil demand upward by about 900,000 barrels per day in 2010 as compared to last year.
OPEC Raises 2010 Demand Forecast
Two jack-up rigs stand at shipyard in Singapore. OPEC estimates that demand for oil would grow by 900,000 barrels per day in 2010. (Roslan Rahman/AFP/Getty Images)
3/11/2010
Updated:
10/1/2015
<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/Oilrig.jpg" alt="Two jack-up rigs stand at shipyard in Singapore. OPEC estimates that demand for oil would grow by 900,000 barrels per day in 2010. (Roslan Rahman/AFP/Getty Images)" title="Two jack-up rigs stand at shipyard in Singapore. OPEC estimates that demand for oil would grow by 900,000 barrels per day in 2010. (Roslan Rahman/AFP/Getty Images)" width="320" class="size-medium wp-image-1822162"/></a>
Two jack-up rigs stand at shipyard in Singapore. OPEC estimates that demand for oil would grow by 900,000 barrels per day in 2010. (Roslan Rahman/AFP/Getty Images)
The Organization of Petroleum Exporting Countries (OPEC) this week revised its 2010 global oil demand upward, by about 900,000 barrels per day in 2010 as compared to last year.

OPEC pinned the oil industry rebound on stabilizing national economies around the world, especially that of the United States. Oil demand “has been highly dependent upon the world economy, supported by government-led stimulus plans,” the group said in a joint statement.

The bloc together provides roughly 35 percent of the world’s oil, and often sets production targets to manage oil prices. OPEC’s next meeting is scheduled for March 17.