World oil demand will rise more slowly in 2007 than this year partly because of slower economic growth and record high oil prices, the Organization of the Petroleum Exporting Countries said today.
Oil demand next year will rise by 1.3 million barrels per day in 2007, less than this year's expansion of 1.4 million bpd, the producer group said in a monthly report.
The requirement for OPEC's own crude will drop by 700,000 bpd to 28.3 million bpd next year.
"Developing countries should continue to grow at above-average rates but those closely linked to the US economy are most at risk," the report said.
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"Oil demand growth is also expected to be lower than in the current year due in part to lower economic growth and high oil prices."