OPEC oil cartel on Tuesday raised the projected growth in world oil demand in 2013 , due to expectations of a better -than-expected economic recovery in the developed countries .
Organization of Petroleum Exporting Countries ( OPEC ) said in its monthly report for November that demand would reach an average of 89.78 million barrels per day ( mbpd ) this year , a slight increase of 0.04 million barrels per day from last month's forecast .
Most of the increase in demand comes from small adjustments in Europe and North America with the countries of non - OECD demand forecasts see a slight decline .
However , OPEC produces about 35 percent of the world's oil supply , maintaining its forecast for 2014 demand growth to 1.04 million barrels per day by the total demand is expected to reach 90.78 million barrels per day next year .
In the report , OPEC forecast global economic growth of 2.9 percent this year and 3.5 percent in 2014 , as the U.S. economy has " evolved better than expected " even after the closure of government activities related to the budget debate , deemikian AFP .
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