VOL. XXXV

NO. 11

16-DECEMBER-1991

Supply/Demand

IEA Reduces 1H 1992 Demand Estimates

The International Energy Agency (IEA) has reduced its estimates of worldoil demand by 0.3mn b/d for both the first and second quarters of next year. TheDecember (end-November) edition of its Oil Market Report (OMR) projects 1Q and2Q 1992 world demand at 68.1mn b/d and 65.1mn b/d respectively, 0.3mn b/d lowerin each case than in the previous month's OMR. As a result the implied demandcall on OPEC crude is...