"The economic outlook is brightening for the US, the world's top oil consumer, and demand in China, the second-largest, is picking up. Following six consecutive monthly downward revisions, world oil demand has shown signs of recovery in the last couple of months. The slightly higher figures indicate that we were right to refute last month's presumption of 'demand destruction'."

(OPEC's report said on Wednesday expecting the world economy to expand by 4.1% in 2006, up from 4% forecast in October. ).
See more industry/OPEC viewpoints at http://www.platts.com/Oil/Resources/Quote%20of%20the%20Day/