OPEC AND OIL PRICES
IEA Reduces Demand Figures: Supply Overhang Grows
The rate of growth in OECD oil consumption is slowing down, according to thelatest International energy Agency (IEA) figures published in the October OilMarket Report (OMR). The figure for 3Q OECD demand is now put at 34.2mn b/drather than 34.4mn b/d in the September OMR, representing an increase of 3% over3Q 1985 rather than the previous 4%.
Reduced demand growth in the OECD is reflected...