Low crude oil prices will lead to a pick up in demand and next year may cause the biggest drop in non-OPEC output in nearly a quarter of a century, the IEA said Friday.

With global oil prices now under $50 per barrel, the International Energy Agency said it sees demand rising from 94.4 million barrels per day this year to 95.8 next year, while non-OPEC output may fall by nearly half a million barrels per day.