VOL. XLI

No. 08

23-February-1998

OPEC

IEA Slashes Non-OPEC Supply Forecast For 1998

Somewhat late in the day perhaps, the International Energy Agency (IEA) has finallycome around to a downward revision of its lofty projections for non-OPEC supply in 1998.In the February issue of its Monthly Oil Market Report (MOMR), the IAE hasdownsized its forecast for non-OPEC supply growth this year by some 0.5mn b/d from 1.85mnb/d to 1.34mn b/d, with corresponding reductions of 0.5mn b/d for each of the...