OGJ Newsletter

11/19/2001
Market MovementSluggish third quarter demandGlobal oil demand in the third quarter contracted by an estimated 750,000 b/d from the third quarter of last year, but IEA has not lowered its demand growth estimates for 2001 and 2002 at all since its October report.OECD demand fell by 2.5% in September, the biggest monthly drop this year. Preliminary reports show that oil deliveries during the month contracted in eight of the largest OECD economies at an aggregate rate of 3%, led by a 4.9% decline in North America. Jet fuel deliveries held up better than had been expected. Early estimates indicate that jet fuel deliveries during September fell as much as 15.6% in the US, but DOE reports sugges...
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