OPEC raises its forecast for oil demand growth

Cartel also says supplies must offset lower output from non-OPEC countries

LONDON – Oil cartel OPEC nudged up its forecast for world oil demand growth in 2006 on Wednesday and predicted OPEC supplies would have to offset lower-than-expected output from non-OPEC countries.

OPEC now expects world oil demand to grow by 1.57 million barrels per day (bpd) in 2006, an upward revision of 30,000 bpd and little changed from this year
In its monthly report, OPEC