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Oil demand 'to rise'

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Oil demand 'to rise'

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The International Energy Agency has become more upbeat about demand for oil.

It has said that it now believes demand will recover at a faster pace than previously expected for the rest of 2009 and 2010 as the global economy picks up. In its latest monthly report, the agency has increased its oil demand growth estimate for next year by 150,000 barrels per day from its previous projection.