VOL. XXX

NO. 24

23-MARCH-1987

OPEC AND OIL PRICES

IEA Forecasts Reduced Growth in Oil Demand in 1987

OECD oil consumption rose by some 1% in the first quarter of 1987 to 35.9mnb/d, as against 35.5mn b/d in 1Q 1986, and an increase of this magnitude isforecast for the year as a whole (compared to a growth rate of 2.5% in 1986) inthe March issue of the International Energy Agency (IEA) Oil Market Report (OMR).World oil demand outside the centrally planned economies is thus expected toaverage 47.2mn...