Oil prices up as demand to increase 1.36 million barrels per day.

July 13, 2011 - PRLog -- Oil prices up as demand  to increase 1.36 million barrels per day.
Oil prices rose on Wednesday as the market reacted to news of a drop in US crude inventories and OPEC report on demand increase.

New York's oil prices is up $1.10 to $98.53 a barrel.
Brent North Sea crude for August grew $1.39 to $119.14 in London.

The US Department of Energy on Wednesday said that crude inventories dropped by 3.1 million barrels last week, more than double the amount .
OPEK producers have stated that demand for their oil is rising.

Demand for oil this year would be 88.18 million barrels per day, an increase of 1.36 mbd from the level in 2010, OPEC said in its monthly report.
China and India's oil consumption to accelerate in 2011

China's economy the world’s second-biggest, grew a more- than-estimated 9.7 percent in the first quarter and consumer prices rose 6 percent.
China’s and India's 2.54 billion population has a strong driving demand for oil and energy to meet the needs of it's economic growth.
Albanian Minerals CEO Sahit Muja said "Oil demand in China and India will continue to grow because of migration of rural population to urban, this will continue to drive up  oil prices ".

Growing economy in China and India  will drive the demand for new roads, railways, airports, hospitals, schools, banks, infrastructure, water projects, energy projects, courts and legal system, new factories, houses, buildings, oil and natural gas refineries, power plants, wind energy turbines, solar power, cars, trucks, airplanes, ships, machinery and much, much, more.

The emerging Chinese and Indian economy's needs more oil .  China and India is investing massively in  infrastructure, energy, and housing  in order to maintain the country’s economic growth and development.
Albanian Minerals

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Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe