Developing World Oil Demand Steadily RisingEmerging markets are almost entirely the source of this increased demand, with China accounting for 41 percent of demand growth over that time period, the IEA forecast says.

FORBES: Chinese Demand Remains The Driver Of World Oil Prices And That's Bullish

Credit worthiness has declined for the so-called center economies of Japan, US and Europe, while it has steadily improved over the last five years in developing countries from Latin America to southeast Asia.

FORBES: "Third World" No More as Emerging Markets Upgraded, Developed Markets Downgraded