Wednesday, the International Energy Agency revised up its demand forecasts for 2009 and 2010 on an expected strong demand from Asia.

Global demand for 2009 is revised up by 190,000 barrels per day to 83.94 mb/d and that for 2010 is raised by 70,000 barrels per day to 85.25 mb/d, the Paris-based IEA said in its latest monthly oil market report.

The energy watchdog sees demand growth next year at 1.6%.