Short-term oil demand growth this year warming - IEA

IEA oil demand will increase in 2010 raised 19 million barrels a day forecast

* Increase in consumption to decline in OECD inventories

* IEA non-OPEC countries in 2011 increased the supply forecast

* 2011, said the fundamentals of "quite at ease"

Reuters, London, November 12 - --- The International Energy Agency (IEA) said on Friday in the monthly report that global oil demand growth this year appears too short in the heating, the demand growth will slow in 2011.

Increased consumption as the developed industrial countries plus China's rapid growth, IEA oil demand in 2010 growth forecast raised 19 million barrels compared with the previous report to 234 million barrels.

But the IEA lowered its modest demand growth forecast in 2011. Overall, global oil demand next year is 8,851 million barrels expected, still higher than this year's 8,732 million barrels.

"Organization for Economic Cooperation and Development (OECD) of the overall situation, needs enhancement. But we think that the repair is short." IEA oil industry and the market, said David Fyfe, head.

The report notes that in Europe before the winter heating oil stocks to buy, and the China diesel strong distillate demand, pushing up demand.

However, the report said, with China's new five-year project will focus on power generation by the fuel oil transfer back to coal, may be inhibited after the first quarter of 2011 oil consumption.

IEA says oil demand growth next year will slow to 119 million barrels, down 2 million barrels a day higher than previously reported.

See IEA, Organization of Petroleum Exporting (OPEC), Energy Information Administration (EIA) petroleum supply and demand estimates for 2011 comparison chart, please click (r.reuters.com/zyv25q).


** ** Rest assured that next year, the fundamentals

According to IEA, OECD oil demand to improve inventory levels resulting in lower inventories in September to meet the needs of 59.9 days, down 1 day from the previous month.

Reported at the end of October, floating storage units the previous month crude oil stocks decreased 1,000 barrels to 3,200 barrels per day.

IEA oil is expected next year, but fundamentals "quite at ease."

IEA non-OPEC countries in 2011 increased the supply forecast at 25 million barrels to 5,340 million barrels, due to increased output in North America and China. IEA and non-OPEC countries to maintain the supply was estimated at 5,260 barrels per day.

"The current oil prices, it is clear there is sufficient incentive for non-OPEC will increase production to the maximum." IEA Deputy Executive Director Richard Jones on Friday, said at the Reuters Global Oil Forum.

IEA says OPEC member states in October on the level of compliance with the agreement to limit production to 55%, 56% lower than September.