OPEC

IEA Says 2Q Demand Down 3.5% 

The International Energy Agency (IEA) has again reduced its estimate of world oil demand in the second quarter of the year. In the August issue of its monthly Oil Market Report (OMR) the IEA now puts 2Q demand at 43.9mn b/d (down from 44mn b/d in the July OMR and 44.7mn b/d in the June OMR), or 3.5% less than in the corresponding period of 1984. The reduction is due to lower figures for the OECD countries (32.3mn b/d rather than the previous 32.4mn...