NO. 5


IEA Forecasts Oil Consumption Will Start Falling Again Next Year

The latest set of supply/demand forecasts from the International EnergyAgency (IEA) spell bad news as far as the oil producers are concerned. In itsend-October assessment of the oil market situation (given in detail in the DSection) the IEA has again sharply downgraded its demand estimates for theperiod covering 4Q 1990 through 3Q 1991.

Demand in 3Q 1990 has actually risen in comparison with...