VOL. XXXIX

No. 47

19-August-1996

OPEC

IEA's 1997 Forecast Gives OPEC Scant Cause For Celebration

In its latest (August) Monthly Oil Market Report, the International Agency has taken its first quarterly look at 1997 and the initial forecasts once again give OPEC little cause for cheer. While the forecasted global demand in- crease for 1997 is expected to match this year's relatively robust 2.5% growth rate, continued advances in non-OPEC supply leave practically no room for OPEC...