NO. 31



IEA Forecasts 0.8% Demand Downturn in 2Q 1991

In the May edition of its monthly Oil Market Report (OMR), the InternationalEnergy Agency (IEA) forecasts a 0.8% drop in world oil demand in the secondquarter of 1991, to 64.0mn b/d as against 64.5mn b/d in 2Q 1990, with the bulkof the decline (0.4mn b/d) coming from the OECD area. This follows a demandincrease of 0.3% (0.2mn b/d) in 1Q 1991, and precedes a forecast fall of 1.4%(0.9mn b/d) in 3Q 1991. However,...