VOL. XXXIII

NO.18

5-FEBRUARY-1990

General

Oil Squeeze Nearer than Expected, Says BP's Horton

World oil demand is likely to outstrip supply sooner than most people expect,according to Mr. Robert Horton, the chairman designate of British Petroleum. Ina speech to energy journalists in London on 25 January, Mr. Horton pointed outthat crude oil prices have remained firm despite the fact that OPEC productionis estimated at over 23mn b/d, with demand thought to be about 1.5mn b/d lower,and that there are...