NO. 40



IEA Raises Figure for IQ OECD Demand

Oil demand has once again proved stronger than previous estimates,according to the July issue of the monthly International Energy Agency (IEA)Oil Market Report (OMR). The IEA now puts 1Q demand in the OECD at 37.5mn b/drather than the previous 37.1mn b/d, an increase of 3% over 1Q 1987, with demandin North America and the Pacific up 8% and 6% respectively, as against a 4% dropin Europe. In the second quarter the IEA believes...