NO. 35


Strong 1Q Demand Growth in OECD

Oil consumption in the OECD countries in lQ 1988 rose by 2% over lQ 1987 to37.1mn b/d, largely as a result of a 5.6% increase in North American demand,according to the June issue of the International Energy Agency (IEA) Oil MarketReport (OMR). The IEA is now forecasting a 2% growth in OECD demand for the yearas a whole to 36.4mn b/d, with the result that forecast world demand for 1988 israised by 0.2mn b/d in the June OMR to 49.7mn b/d...