The top global banking associations and economist have a broad spread of expectations about what worldwide GDP growth will be in 201o.

The IEA has raised its GDP forecast and along with it the forecast for oil demand.

The agency says that global oil demand have been raised to an average of 84.6 barrels per day in 2009 and will average 86.1 barrels per day in 2010. The growth for next year is up 1.4 million barrels a day from the agency’s last report.

The IEA does not give a specific forecast for oil prices, but it does expect OPEC to continue to export more than the cartel has officially indicates, which may keep crude  oil at or below current levels.

Crude dropped $.33 on the news.

Douglas A. McIntyre