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Global oil demand seen rising slightly in 2011

PARIS (AP) - The International Energy Agency says world oil demand will rise next year despite a drop in rich countries, where efficiency savings and fuel substitution should outweigh a boost from faster economic growth.

The Paris-based agency on Tuesday said global oil demand for 2011 should rise by a daily 1.3 million barrels to 87.8 million barrels a day.

That's a 1.6 percent rise on this year, boosted by a 3.8 percent annual increase in demand from emerging economies such as China.

But demand in rich countries will resume its decline, falling by 0.5 percent compared with 2010.

In its monthly report on the oil markets, the IEA said its outlook for 2010 is largely unchanged at 86.5 million barrels a day, a 2.1 percent increase from 2009.

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