OPEC

IEA Revises Non-OECD Consumption Figures

 In the latest International Energy Agency (IEA) oil market assessment, published in the December Oil Market Report (OMR), estimated world consumption (excluding CPEs) in the fourth quarter of 1984 has been raised by 700,000 b/d to 47.4mn b/d (as against 46.7mn b/d in the November OMR). This sharp increase is not, however, due to any unexpected surge in demand but to an upward revision of historic and projected figures for non-OECD oil...