Worldwide demand for oil in December to reach 78 mln barrels a day and exceed supply by 5 mln barrels

/IRBIS, Dec.08, 99/ - PRIME-TASS informs, with the reference to Associated Press's citation of the director of International energy agency Robert Priddle, that worldwide demand for oil in December of 1999 will reach 78 barrels a day and exceed supply by 5 mln barrels. It is also said that reserves of oil in reservoirs are shrinking. World prices for oil doubled relative to last year due to maintenance of the restriction on oil production, but demand is not shrinking. Active growth of the world economy might be a cause for this. World oil prices may not fall in coming months unless oil producing countries start to produce more than the limits established for them. However, prices are not so high that emergency stocks should to be used.