The readings were notably strong in the countries that make up the Organization for Economic Co-Operation and Development, the agency said. The IEA said it now expects 2010 demand to average 86.9 million barrels a day and 2011 demand to average 88.2 million barrels a day. Crude oil for November delivery Wednesday was rising by $1 to $82.67. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: email@example.com.
NEW YORK ( TheStreet) -- The International Energy Agency raised its forecast for global oil demand for 2010 and 2011 by 300,000 barrels a day on new data showing much stronger-than-expected third-quarter 2010 readings and updated gross domestic product and price assumptions.