Oil Supply Sufficient for Now, Agency Says:...
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Oil Supply Sufficient for Now, Agency Says: Increased oil production by OPEC will make up for much of the lost supplies from Iraq and Kuwait and prevent a worldwide oil crunch in the immediate future, the International Energy Agency staff estimated. But if the Persian Gulf crisis continues at stalemate for another six months, the Paris-based IEA predicted, worldwide oil stocks will decline measurably from their levels of a year earlier. An IEA official, asking to remain anonymous, described supplies as “adequate; but by adequate we do not mean comfortable.”
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