Oil: IEA, in 2012 demand will grow by 1,5 million barrels per day

World oil demand will increase by 2012 million barrels per day in 1,5, marking an increase from this year's pace. This is what the International Energy Agency estimates. The driving force behind this increase will be represented by the emerging countries. The financial crisis in some European countries will instead lead to a slowdown in demand in the industrialized world, i.e. in the OECD area, which will record a contraction of 0,3% compared to 2011. Yesterday OPEC had cut its growth estimates global oil price for 2012, due to fears about the stability of the global recovery and European consumption. The oil cartel has predicted that global crude oil consumption will grow by 1,32 barrels per day, up from 1,36 million initially estimated.