The International Energy Agency (IEA) stated on July 11, 2014, that Chinese demand for oil will increase by 440,000 barrels a day in 2015, or 4.2 percent, to 10.87 million a day, as government support keeps economic growth above 7 percent. The IEA predicted that world oil demand will climb 1.5 percent to a record 94.1 million barrels a day in 2015, as growth in emerging economies compensates for a contraction in developed nations.