NO. 28



IEA Downgrades 1992 Demand Projections

In the April (end-March) issue of its Oil Market Report, the InternationalEnergy Agency (IEA) has downgraded its projections of 1992 world oil demand by0.1mn b/d in 1Q and 2Q, 0.2mn b/d in 3Q, 0.1mn b/d in 4Q and 0.1mn b/d for theyear as a whole. World oil demand is now forecast to rise by 0.4mn b/d to 66.7mnb/d in 1992, an increase of 0.6% over the 1991 figure of 66.3mn b/d. However,the demand call on OPEC crude...