OPEC predicts rise in demand for oil

OPEC, supplier of a third of the world’s oil, said demand for oil in 2004 will rise the most in four years as the global economy expands and China’s consumption rises, requiring more oil than expected.

Use of gasoline, diesel and other fuels in 2004 will rise by 1.57 million barrels a day to 80.05 million a day, 300,000 barrels more than forecast a month ago, OPEC said. OPEC expects demand for its oil this year of 26.17 million barrels a day, 230,000 more than expected previously.