NO. 23



IEA Sees No 4Q 1987 Stockdraw in OECD

The International Energy Agency (IEA) puts OPEC crude output in February at17.4mn b/d, up from 17mn b/d in January, in the March issue of its monthly OilMarket Report (OMR). Demand in lQ 1988 is projected at 49.9mn b/d and non-OPECsupply at 28.5mn b/d leaving an additional requirement - from OPEC and stocks -of 21.4mn b/d. With OPEC NGL production of 1.7mn b/d, the IEA reckons on aglobal lQ stockdraw of 2.0-2.5mn b/d,...