OPEC sees demand for its oil in 2006 unchanged at 28.7-mil b/d

London (Platts)--20Jan2006

World oil demand will rise more quickly than expected in 2006 as economic
growth gathers pace in countries such as China, the second-largest oil
consumer, oil cartel OPEC said on Friday.
     In a monthly report, OPEC raised an estimate for global demand growth in
2006 to 1.62-mil b/d and said demand for its crude in the first quarter would
average 30.14 mil b/d, up 270,000 b/d from 29.87-mil b/d expected in December.

     "This represents an upward revision from the previous month and comes on
the back of a more optimistic view of the world economy for the coming year,"
the January report said of the 2006 demand-growth forecast.
     OPEC left a forecast of demand for its crude in the whole of 2006 steady,
the report said.
     "For 2006, the demand for OPEC crude is expected to average 28.7-mil b/d,
unchanged from last month's report," it said.

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