The Organization of Petroleum Exporting Countries (OPEC) has raised its global oil demand forecast as consumption increases in Asia, Middle East and Latin America.

In its Monthly Oil Market Report, OPEC boosted its outlook by 140,000 barrels a day for 2010 and 2011.

The group said worldwide crude oil use will increase 1.2% or 1.05 million barrels a day in 2011 to average 86.56 million barrels a day.

OPEC expects demand in Asian countries outside the Organization for Economic Cooperation and Development, such as China, will grow by 200,000 barrels a day next year to 10.25 million a day.

Global economic recovery is projected to continue through 2011 with an even distribution between the first and second half of the year, OPEC said.