World oil demand is expected to rise to 88.67 million b/d this year, up 900,000 b/d from 87.77 million b/d in 2011, OPEC said Thursday in its latest monthly oil market report.
The estimate represents an upward revision from OPEC's previous forecast of an increase in demand this year of 860,000 b/d.
China alone is expected to account for 400,000 b/d of the increase as its demand rises to 9.81 million b/d from 9.41 million b/d, OPEC said in its report.
The remainder of the growth in demand is spread among the countries of the Middle East, other parts of Asia and the former Soviet Union.
Rising consumption from these areas is expected to outweigh falling demand in the developed economies of the OECD, whose combined oil use is expected to fall to 45.45 million b/d in 2012 from 45.62 million b/d in 2011, primarily as a result of the European economic crisis.
