No. 35



OPEC Projects 2.4% Growth In World Oil Demand For 1998

The OPEC Secretariat projects that world oil demand for 1998 will grow by 1.79mn b/d,or 2.4% over 1997, according to a preliminary forecast published in the August issue ofthe Organization's Monthly Oil Market Report. The projection for demand, which isforecast to grow from 73.37mn b/d in 1997 to 75.17mn b/d in 1998 (see Table 1), is basedon an expected slight improvement in world economic growth,...