Oil set for increased demand

Oil set for increased demand

Next year will see global demand for oil at its highest since 2010 according to the International Energy Agency. It says that China will lead the gains in emerging markets and an extra 1.4 million barrels a day will be required to meet the global demand. The price will also be higher than its current price, despite having declined in the last month. The IEA says this is due to continuing risk in the Middle East. The booming oil business in the US will continue growth as global economies surge and OPEC countries crude oil sales decline while those of natural gas liquids increases. Read the full story.