World Oil Demand Rises to 85.91Mln bpd This Year: EIA

World oil demand is expected to rise 1.57 million bpd this year to 85.91 million bpd.

World oil demand is expected to rise 1.57 million bpd this year to 85.91 million bpd, a gain of 1.9 percent, said the Energy Information Administration Tuesday in its new monthly report.

The EIA also raised its 2011 world oil demand growth estimate by 1.51 million from 2010 to 87.42 million bpd.

Oil demand in OECD member states is expected to decline by 0.2 percent, with the United States is the only member that expected to post significant gains in oil consumption in 2010 and 2010, rising about 150,000 bpd both years.

The U.S. agency revised its forecast for oil demand growth in China this year by 80,000 bpd to 650,000 bpd from the agency’s prior estimate and by 10,000 bpd to 560,000 bpd in 2011.