Related
An oil pump works in May 2010 in the Persian Gulf desert oil field of Sakhir, Bahrain. Oil demand is forecast to rise slightly next year. (Hasan Jamali/Associated Press)Global crude oil use will increase next year despite reduced demand in the developed world, the IEA says.
The Paris-based International Energy Agency says global crude demand is expected to increase by 1.3 million barrels or 1.6 per cent to 87.8 million barrels per day next year. Much of that increase is tied to demand from developing nations, especially China.
Demand in rich, developed countries is expected to fall by 0.5 per cent. Savings in fuel efficiency and fuel substitutes should outweigh a boost from faster economic growth, the agency said.
The 2010 demand forecast was unchanged at 86.5 million barrels per day. That's a 2.1 per cent increase over what the world consumed in 2009.
Share Tools
Top News Headlines
- Dog kills newborn in Alberta community
- Officials in Airdrie are revealing few details about the fatal mauling of an infant by a family dog in the southern Alberta city. more »
- Former Expos catcher Gary Carter succumbs to brain cancer
- Hall of Fame catcher Gary Carter, who left an indelible mark on baseball in Canada during his 12 years with the Montreal Expos, died on Thursday. The man nicknamed "Kid" or "Kid Carter" for his ever-smiling face and cheerfulness is free from the inoperable brain cancer that sapped his energy and took his life at age 57. more »
- Underwear bomber sentenced to life in prison
- A Nigerian man who tried to blow up an international flight near Detroit on behalf of al-Qaida has been sentenced to life in prison without parole. more »
- 7 MPs and their fiery quotes
- The election of a majority government was seen by some as a chance for less acrimonious politics on Parliament Hill. But the past week has seen its fair share of inflammatory rhetoric on both sides of the House. more »
Latest Business Headlines
- Euro rises on report ECB will help Greece
- The euro rose Thursday on a report that the European Central Bank is providing Greece with debt relief. more »
- Sears cuts prices on more than 5,000 items
- Sears Canada is cutting prices on more than 5,000 items as the department store chain and other Canadian retailers gear up for more intense competition — including from the U.S. discount giant Target. more »
- Oliver calls European oilsands threat grandstanding
- Federal Natural Resources Minister Joe Oliver is calling a European effort to bar oil imports from Alberta's oilsands nothing more than grandstanding more »
- New Canada-China energy deals may be good for U.S. too
- U.S. Ambassador David Jacobson said in Montreal on Thursday that it's good for the United States when Canada, its largest trading partner, increases its trade in new markets like China. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12485.59 | 123.56 |
| DOW | 12904.08 | 123.13 |
| NASDAQ | 2959.85 | 44.02 |
| SP 500 | 1358.04 | 14.81 |
| NYSE COMPOSITE | 8092.19 | 93.54 |
| AMEX | 2448.24 | 28.25 |
| TSX-VENTURE | 1648.11 | 14.53 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Dog kills newborn in Alberta community
- Refugee reforms include fingerprints, no appeals for some
- Montreal telemarketers in fraud case still making calls
- Bully victim's mother tells of 'suicide box'
- Degrassi's Wheels death announced, 5 years later
- Honduras prison fire is world's deadliest
- Nortel collapse linked to Chinese hackers
- 2 small earthquakes rattle Vancouver Island
- Barefoot girl's icy trek not blamed on babysitter

