IEA (International Energy Agency) raises Q4 2009 world oil demand forecast by 530,000 bpd (barrels per day) to 85.2 million bpd

and raises Q4 OPEC oil demand estimate by 500,000 bpd. It also lifts its 2010 global oil demand forecast to 1.42 million bpd, up 150,000 bpd from its previous forecast, raising forecasts for the 3^rd consecutive month. Oil traded down to 71.35 has now recovered and currently trades at 71.44.