No. 24



IEA Cuts 1996 Projects For Non-OPEC Supply

Affording some modest relief to OPEC in its end-February Oil Market Report, the International Energy Agency (IEA) has downgraded its 1996 projections for non-OPEC oil supply in comparison with the previous month's forecast, by 0.5mn b/d for 1Q, 0.2mn b/d for 2Q, 0.1mn b/d for 3Q and 4Q, and 0.3mn b/d for the whole year 1996. However, non-OPEC supply is still projected to register a hefty increase of 1.7mn...