THE Organisation of Petroleum Exporting Countries (OPEC) will be ardently serenaded by the rest of the world over the next 15 years. This much was predicted by the Paris-based International Energy Agency (IEA) in Washington in late April while releasing its World Energy Outlook, an update of the Agency's projections of long-term energy demands Up to AD 20 10. Citing a & rapid burgeoning of energy demand in the developing world, it forecast that the global oil consumption will rise to over 75 million barrels a day (mbd) by the end of the decade, reaching 92-95 mbd by AD 2010. IEA executive director Robert Priddle gloomily confesses that the only way to cope with this emergency is "becoming more and more reliant on OPEC countries."
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