IEA Slashes Projections For Demand And Non-OPEC Supply
The International Energy Agency (IEA) has made furthersubstantial reductions in its 1998-99 estimates for both oil demand andnon-OPEC supply. In its latest (January) Monthly Oil Market Report(MOMR), the Agency has downsized its demand estimates, in comparison with theDecember MOMR figures, by 0.4mn b/d for 1998 (down 0.2mn b/d in each of 1Q and2Q, 0.6mn b/d in 3Q and 0.4mn b/d in 4Q) and by 0.7mn b/d for...
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