OPEC says that world economic growth above three per cent this year and next should drive up global oil demand by 900,000 barrels a day this year and a further 800,000 barrels in 2013.

The Organization of the Petroleum Exporting Countries issued the forecast Tuesday in its monthly report on global demand.

The report said that OPEC produced 31.41 million barrels of oil a day in August — 254,000 more a day than in July, and about 1.5 million barrels a day more than estimated demand for OPEC crude over all of 2012.

Meantime, the Central Bank of the United Arab Emirates says the OPEC member's economy has shown "sustained resilience" and is likely to grow faster than the International Monetary Fund expects this year.

The bank said in its first "financial stability review" Monday that the UAE's economy apart from oil receipts may grow by up to four per cent. The IMF had expected non-oil economic growth of 3.5 per cent this year.

It attributes the stronger forecast in part to expectations of improved growth in the commercial hub Dubai and the capital Abu Dhabi, and increased public spending in the poorer northern emirates.

The seven-state federation is the Arab world's second largest economy. Besides oil, its economy is driven by trade and services such as banking and tourism.

- AP