London ? Demand for oil is growing at its fastest rate in eight years, but the economic recovery could fizzle unless suppliers keep pace by drilling new wells and producing fresh crude, the International Energy Agency warned Wednesday.

The growth in demand for crude continues to outstrip expectations, the IEA said in its monthly oil market report. Given China’s thirst for imported oil and the soaring demand for gasoline and jet fuel in industrialized countries, the agency revised its 2004 demand forecast upward to 80.6 million barrels a day — an increase of 2.5 percent over last year.

World demand hasn’t risen this fast since 1996, the agency said.

The IEA is the energy watchdog for rich oil-importing countries.

With oil prices reaching 13-year highs, the Organization of Petroleum Exporting Countries, which pumps a third of the world’s oil, announced on Wednesday plans for talks next week to consider a plan that the group raise its production ceiling in a bid to cool the market.