Confessions of a Statistician

EnergyBulletin.net – In its August 2004 issue of the Oil Market Report (OMR), the IEA posed the question whether the current oil market situation justify $45 oil and stated the result as irrational exuberance. What did the IEA do in order to justify that fundamentals are there? It adjusted Non-OECD demand upwards in OMR. It also revised NGL figures for many countries.

The editorial of Arab Oil and Gas Journal on 16 December 2005 stated that
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