NO. 23



IEA Forecasts 1Q OPEC Crude Output of 19.7mn b/d

While sharply down from the average of 22.3mn b/d in the last quarter of1988, OPEC crude production in 1Q 1989 is forecast to be 1.2mn b/d over the18.5mn b/d production ceiling at 19.7mn b/d, according to estimates published bythe International Energy Agency (IEA) in the March issue of its monthly OilMarket Report (OMR). The IEA has raised its estimate of January OPEC crudeoutput from 19.4mn b/d in the...