VOL. XLI
No. 47
23-November-1998
GENERAL
IEA Again Slashes 1998-99 Oil Demand Forecasts
The International Energy Agency (IEA) has again slashed its oil demandprojections for 1998 and 1999. In its latest (November) Monthly Oil Market Report (MOMR),the Agency estimates world oil demand for the year 1998 at 74.3mn b/d (0.2mn b/d down fromthe previous months figure), with 3Q down 0.3mn b/d and 4Q lower by 0.6mn b/d. At74.3mn b/d, global demand in 1998 is now projected to increase by only 0.55mn b/d...
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