VOL. XXXV

NO. 42

20-JULY-1992

Supply/Demand

IEA Reduces 2Q Demand Estimates for OECD

In the July (end-June) edition of its monthly Oil Market Report (OMR), theInternational Energy Agency (IEA) has reduced its estimate for second quarterOECD oil demand by 0.4mn b/d as compared with that of the previous month. OECDdemand in 2Q 1992 is now expected to remain unchanged from 2Q 1991 at 37.0mnb/d. The IEA attributes the downward revision to weak demand in May in allregions (and in the US in June)....