	iea sees one pct growth in oecd oil demand growth in oil consumption in the western industrialised countries is likely to slow to around one pct this year compared with pct in the international energy agency iea said oil use in the countries of the oecd increased by around one pct in first quarter to mln bpd the iea said in its monthly oil market report growth in oecd countries is expected to come primarily from transport fuels as in but if average consumer prices are higher than the rate of growth for these fuels may be below last year s pct it said the iea said that assuming  oil and product prices stay close to current levels some destocking by end users can be expected if that happens natural gas will also regain some of the market share it lost to heavy fuel in and there may be slightly less growth in transport fuels iea estimates on april put oil stocks in the oecd area at mln tonnes representing days of forward consumption this is about the same level as at the begining of the year the agency said this flat trend is explained by the projected seasonal consumption decline in the second quarter of the year which offset a reduction in stocks it said initial estimates indicate that company stocks fell by mln bpd in oecd countries in the first quarter of the year this followed a small rise in january of mln bpd but a decline of mln bpd in february and mln bpd in march it is possible that final data will show a larger draw particulary for march it said as  production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said company stocks on land in the oecd rose to mln tonnes on april against mln on april governments built up strategic stocks to mln tonnes against mln in the period the year on year trend of government stock building is continuing with year on year company stocks also rising more or less in line with consumption after declining for five years the iea noted oil stocks on land in the u s and canada were put at mln tonnes on april down from the mln tonnes on january and equivalent to and days of consumption respectively oil stocks in western europe were mln tonnes on april down from the mln on january but still equivalent to days of consumption world oil supply fell in the first quarter by about two mln bpd to mln bpd from mln bpd in last quarter this drop was mostly due to a decline in opec  production to around mln bpd in february march from mln bpd in january and to the seasonal drop in exports from centrally planned economies the iea said total opec  oil supply was mln bpd in the first quarter plus mln bpd of ngls compared with mln bpd of  in the last three months of and mln average for the whole of supply from non opec countries totalled mln bpd against mln bpd in the fourth quarter a drop in saudi arabian output to a tentatively forecast mln bpd in march from mln bpd in february was the largest factor behind the opec production decline the iea said saudi arabia s opec assigned output quota is mln bpd reuter 
