VOL. XLI

No. 11

16-March-1998

OPEC

IEA Reports "Overwhelmingly Bearish Market Sentiment"

Mounting physical evidence of softening global crude supply/demand fundamentals -including lower demand forecasts for 1998 and the difficulty of finding storage space foraccumulating inventories caused by a glut of supply - has led to overwhelmingly bearishmarket sentiment, according to the March issue of the Monthly Oil Market Report (MOMR)published by the International Energy Agency (IEA).

On the inventory...