OPEC says its expect demand for its oil to be higher than expected as its policy of letting prices fall to hurt other producers begins to bite.<br /><br /> The Organisation of Petroleum Exporting Countries, which pumps a third of the world’s oil, now forecasts demand will average 29.27 million barrels a day, a rise of 80,000 on previous estimations. <br /><br /> Its monthly report also confirms industry expectations of a surge in OPEC production last month, led by higher output in Saudi Arabia, Iraq and a partial recovery in Libyan production.
