Global oil demand to go up in 2014

Bloomberg reports global oil demand will be higher than forecast for 2014.

The International Energy Agency estimated in its monthly oil market report on Wednesday that the U.S. rebounded to its strongest level of consumption in five years.

Demand will increase by 1.2 billion barrels a day next year.

And U.S. fuel rose in November above 20 million barrels a day for the first time since 2008, according to the data.