VOL. XLIII
No. 08
21-February-2000
OPEC
IEA Charts Stockdraw Acceleration And Warns Of Spot Outages And Increased Price Volatility
The fourth quarter reduction in OECD crude and products inventories by 1.7mn b/d was the largest fourth quarter stockdraw of the 1990s, and unless producers increase their output, the first quarter 2000 stockdraw will be larger still, potentially triggering a worldwide scramble to secure oil supplies, according to the International Energy Agency(IEA).
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