OPEC AND OIL PRICES
IEA Again Raises 1986 Demand Estimate
The International Energy Agency (IEA) has again raised its estimate of 1986 oil demand outside the centrally planned economies. The June issue of its Oil Market Report (OMR) now forecasts demand at 46.4mn b/d for the year, up from the May estimate of 46.2mn b/d and 0.7mn b/d higher than the preliminary figure of 45.7mn b/d forecast in January and February. In 1985 demand averaged 45.6mn b/d.
Most of the increase in 1986 is...