VOL. XXXIV

NO. 45

12-AUGUST-1991

Supply/Demand

IEA Forecasts Winter Demand Pickup

The International Energy Agency (IEA) is still projecting a relatively stronggrowth in oil demand during the coming winter as compared with the poorperformance in 1990 and the first three quarters of 1991. The August (end-July)edition of the IEA's Oil Market Report (OMR) projects world oil demand at 67.1mnb/d in 4Q 1991 (up 1.4mn b/d or 2.1% over 4Q 1990) and 68.4mn b/d in 1Q 1992 (up0.7mn b/d or 1.0% over 1Q 1990)....