Showing concerns over fluctuation in crude oil prices, OPEC on Tuesday forecasted steady demand of Crude Oil for the year 2010.

Appreciating India and China's role in world's economic recovery, OPEC projected it to grow to 3.1 percent from 2.9 percent last month.

OPEC projected world's oil demand to increase from 800,000 barrels per day to 85.15 million barrels per day, said, which is in support of 86.3 million barrels per day as projected by Paris based International Energy Agency.

OPEC is expecting oil demand to gain recovery in U. S. which is the largest oil consumer.

In 2008, oil prices collapsed from peak of almost $148 per barrel to the $30s per barrel in a few months.

On Jan 15, per barrel cost was $78 which fell to $77.4 per barrel.

Reluctance of German Investors in investing had resulted in fall of Euro against dollar. Dow Jones Stoxx 600 Index slipped to 255.96 in London at 1.04 pm.

Excluding Iraq, 1.6 million barrels per day of oil, above target output, was produced in the month of December.

Next meeting of OPEC is scheduled for March 17 in Vienna, this year.