OPEC raises forecast for world oil demand growth

OPEC on Thursday predicted world oil demand growth would edge up to 1.3 million barrels per day, or 1.5 per cent, in 2007, up 0.1 million bpd from its previous estimate.

OPEC, source of more than a third of the world’s oil, expected demand for its crude to average 30.4 million bpd this year, up slightly from its previous forecast of 30.25 million bpd.