VOL. XXXVIII

NO. 19

6-FEBRUARY-1995

Supply/Demand

Non-OPEC Supplies Soften Market Expectations

Despite world economic growth and the rising demand for oil, supplies fromOPEC, but more importantly from non-OPEC, are believed to be more than adequateto meet this growing demand till the year 2000, according to two studiespublished by Paul Mlotok of Morgan Stanley and Mehdi Varzi of Kleinwort BensonSecurities.

Mr. Mlotok predicts in Morgan Stanley's Oil Market Review of 31 January thatglobal demand may...