OPEC AND OIL PRICES

IEA Reports 0.5% OECD Consumption Decrease in 2Q 1987

In its latest (August) Oil Market Report (OMR), the International Energy Agency (IEA) says that OECD oil consumption fell by 0.5% in the second quarter of 1987 as compared to the equivalent quarter of last year. However, given the 1.9% growth in OECD consumption during SQ 1987, the growth rate for the first half of this year is still expected to reach nearly 1%, as is the increase in OECD oil consumption during the...