world oil markets ieo2005 projects that crude prices in real 2003 dollars will decline from their current level by 2010 then rise gradually through 2025 the international energy outlook 2005 refer ence case demand for grows 78 million barrels per day 2002 to 103 2015 and just over 119 much of growth consumption is pro jected emerging asian nations where strong eco nomic results a robust increase asia including china india accounts 45 percent total use forecast period reference projected would require an increment production capability more than 42 relative capacity 80 0 producers organization petroleum ex porting countries opec are expected be major source increases addition non supply remain highly competitive with increments coming
