IEA

IEA Knocks 1mn b/d off Estimate of First Quarter Demand

The International Energy Agency (IEA) has scaled down its estimate of world oil demand in the first quarter of 1985 by 1mn b/d - to 47.6mn b/d rather than 48.6mn b/d - in the latest (March) issue of its monthly Oil Market Report (OMR). The decline, which is largely attributable to "the seasonally moderate weather compared to one year earlier," is shared equally between North America (where 1Q demand is now put at 17.5mn...