Opec on Friday pointed to a total lack of good economic news out of the U.S. and a world economy seen shrinking 0.2 percent in 2009 in cutting its forecast of world oil demand growth for 2009 by 400,000 barrels per day to a 1 MM bpd.

Now, the world is seen thirsting for 84.61 MMbpd in 2009.

In its World Oil Outllok, the Organization of Petroleum Exporting Countries said the West’s economies were shrinking most, with only China and India seen growing (by 6.5 percent and 5.0 percent). Japan’s economy was seen shrinking 5.5 percent this year, followed by 2.5 percent for the “West” as a whole.

Opec, which is expected to announce another historic production cut next week in Vienna, said fourth-quarter economic performance in the United States and Japan — the world’s biggest and second biggest economies — showed a major downturn. Japan showed a 12 percent decline in the quarter, the worst since the energy crisis of the early 1970’s, while the U.S. shrinkage was 6.2 percent, with job losses, buying power, financial disarray all still spiralling.

The peak demand time of the northern winter received keen scrutiny in the Report.

“Although the winter was colder than average in the northern hemisphere, February oil demand declined significantly not only in OECD but in some parts of non-OECD,” Opec said.

Meanwhile, even China, the Middle East, and Asia faced revisions for their economic forecasts due to the credit crunch’s spillover.

In contrast to the West, Middle East oil demand is seen rising at three percent year-on-year to 7.08.