VOL. XXXVI

NO. 32

10-MAY-1993

SUPPLY/DEMAND

IEA Projects Increasing World Reliance On OPEC Oil

The world will come to rely increasingly on crude oil supplies from theMiddle East and Venezuela, according to the 1993 World Energy Outlook, releasedin late April by the International Energy Agency (IEA). In its yearly forecast,the Paris-based IEA said that by the year 2010, the Middle East and Venezuelawill be likely to supply 50% of the world's oil, although oil's share of totalenergy requirements...