PARIS — World oil supplies reached their highest level in a decade in the fourth quarter as OPEC oil production edged up slightly in December because of higher Iranian output, the International Energy Agency said today.
Oil supplies in the non-communist world in the fourth quarter of 1989 averaged 54.8 million barrels a day, 1.5 million barrels more than during the same period in 1988, said the IEA, the agency maintained by the Western industrialized nations to monitor world energy.
