Global Oil Demand is Likely to Surge by 1.2% in 2012

Fox Business reported that global oil demand is likely to surge by 1.2% in 2012 to 88.96 million barrels a day.

As quoted in the market news:

For 2012, demand in the nations comprising the Organization for Economic Cooperation and Development is expected to drop 0.5%, while non-OECD demand rises 3%. Within the non-OECD demand growth of 1.27 million barrels a day, China accounts for 440,000 barrels a day, and shows a 4.5% rise from a year ago, to 10.27 million barrels a day.

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