VOL. XLIII

No. 12

20-March-2000

SUPPLY/DEMAND

IEA Identifies Low Refining Margins As Biggest Problem In Current Oil Market

OECD industry stocks were even lower than previously estimated at the end of 1999, according to the International Energy Agency (IEA), and a continued inventory reduction of 500,000 b/d in January has reduced the total to 2.47bn barrels. In the latest (March) issue of its Monthly Oil Market Report (MOMR), the IEA says that the stock draw appears to have continued in February,...