OGJ Newsletter

02/23/2004
Market MovementIEA says world oil supplies remain levelWorld oil supplies remained relatively level at 82.1 million b/d during January, with production from the Organization of Petroleum Exporting Countries falling by 145,000 b/d and non-OPEC production up by 130,000 b/d, said officials at the International Energy Agency, Paris, in their latest monthly report. Click here to enlarge imageBut IEA officials boosted the estimated growth of world oil demand by 220,000 b/d to 1.44 million b/d in 2004. That would put total world oil demand at 79.9 million b/d this year. IEA raised its projected 2003 world demand growth by 50,000 b/d to 1.5 million b/d."Oil demand growth is surging in some devel...
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