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IEA Puts OPEC 3Q Crude Production at 22.1mn b/d

1989 demand figures remain unchanged in the October issue of theInternational Energy Agency (IEA) Oil Market Report, with consumption forecastto average 52.1mn b/d for the year, up 1.2mn b/d from the 1988 figure. The majorchange in the latest IEA estimates is on the supply side, with 3Q OPEC crudeproduction now put at 22.1 mn b/d as against the previous 21.5mn b/d, resultingin an overall 3Q surplus of...