NO. 31



OECD Demand Grows 1.7% in First Quarter

OECD oil consumption grew by 1.7% in the first quarter of 1988, averaging36.9mn b/d as against 36.3mn b/d in lQ 1987, according to the May issue of themonthly Oil Market Report (OMR) published by the International Energy Agency(IEA). lQ world oil demand is now put at 50.2mn b/d rather than the previous49.8mn b/d, and for 1988 as a whole the IEA is forecasting average demand of49.5mn b/d, up 0.3mn b/d from the previous...