NO. 19



IEA Cuts Demand Estimates for 4Q 1992 and 1Q 1993

In its latest (end-January) supply/demand forecast contained in the FebruaryOil Market Report, the IEA has downgraded its world oil demand projections by0.3mn b/d in each of 4Q 1992 and 1Q 1993 as compared with its end- Decemberestimates. In both cases, the fall in projected demand is mainly due to lowerforecasts for the ex-USSR. This has resulted in reduced estimates for the demandcalls on OPEC crude...