World oil demand set for record high

World oil demand for 2010 will probably exceed the previous all-time high of 2007 and will grow by more than 1.5 per cent next year, a leading consultancy said.

Wood Mackenzie forecasts demand in 2010 reaching an average 86.7 million barrels a day - 100,000 barrels a day higher than in 2007 - and it is expected to grow further to 88.1 million bpd in 2011.