UAE Oil Min Says, Sees OPEC Meeting Higher 06 Oil Demand

The United Arab Emirates Oil Minister has said global oil demand is expected to increase by 1.5 million barrels a day in 2006 and OPEC should satisfy this demand, Kuwaiti al-Qabas newspaper reported Sunday.

Asked what is the global oil supply and demand forecast of 2006, Mohammed bin Dhaen al-Hamili said in an interview with the newspaper that “expectations for 2006 indicate that the global oil demand will increase by 1.5 million b/d and non-OPEC production will decline.”

Schlumberger