OPEC says oil demand firming

Vienna, Feb 12(AFP) OPEC raised its estimates for global demand for oil in 2013, saying today that it saw signs of recovery in the global economy amid a particularly hard winter in some regions. The Organisation of Petroleum Exporting Countries accounting for about 35.0 per cent of global oil supplies, said it expected total demand this year to be 89.68 million barrels per day from 89.55 mbd estimated a month ago. OPEC also raised slightly its estimate of demand in 2012 to 88.84 mbd from 88.80 mbd estimated in January. Growth of demand in the first nine months of last year had been crimped by concerns about the macroeconomy and by weaker growth of activity in China than expected, OPEC said in its monthly report. But the trend had turned in the last quarter of 2012, mainly in big emerging economies, in China, Brazil and India, but also in Japan, it said. (AFP) NKB SAP 02122024 NNNN