IEA sees 2012 global oil demand rising 0.9% *PIC*

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IEA sees 2012 global oil demand rising 0.9% ( CLK2 ) (by Kim Hjelmgaard)

LONDON (MarketWatch) -- The International Energy Agency said Thursday that 2012 global oil demand is expected to rise to 89.9 million barrels per day, a rise of 0.9% on 2011. The Paris-based IEA said 2012 oil consumption would reach a low in the second quarter at 86.6 million barrels per day on a "stuttering economic recovery," but that demand would strengthen by the end of the year. In March, oil supplied by the Organization of the Petroleum Exporting Countries, or OPEC, held near three-and-half-year highs at 31.43 million barrels per day, while non-OPEC supply declined to 52.7 million barrels per day. May crude-oil futures [CLK2] on Thursday were recently up 29 cents at $103.02 a barrel.

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