Published on September 25, 2014
Global oil demand is expected to increase by 1.21 million barrels per day (bpd) by 2015.
Global economic growth is likely to reach 4 per cent.
In the second quarter of 2014, global demand for oil rose by two million bpd on a yearly basis primarily due to the increasing demand in Asian nations.
However, demand for oil in Asia Pacific region is expected to decline by 1.5 per cent on a yearly basis.
In Europe, oil sales are likely to decline by 1.3 percent compared to 2013.
US oil consumption hit 18.7 million bpd in April 2014 and is expected to increase to 19.1 million bpd by 2015.
