NO. 9


OPEC Downsizes Demand Projections

In its latest supply/demand estimates - endorsed by the Economic CommissionBoard (ECB) and presented to the ministerial conference in Vienna - the OPECSecretariat came out with a substantial downward revision of its projections forworld oil demand and the call on OPEC crude supply for the fourth quarter of1993.

In its end-November assessment the Secretariat estimates world crude oildemand for 4Q 1993 at 65.98mn b/d, down by...