Global oil demand to grow 1.1m bpd in 2012: OPEC 

(MENAFN) The Organization of the Petroleum Exporting Countries (OPEC) said that in 2012, world demand for crude would be expected to grow 1.1 million barrels per day (bpd), reported AP.

OPEC added that the increase, compared with a rise of 0.9 percent in 2011, would be forecasted to occur in spite of the euro-zone's sovereign debt crisis and other economic troubles.

It also said that demand from the organization's members would be expected to reach 31 million bpd, unchanged from 2011, however, it is an upward revision of the 100,000 bpd forecasted in December's report.

It is worth noting that in the major industrialized countries, demand would likely fall, nevertheless, it would increase by over 1 million bpd in other countries.