IMF urges oil data transparency – Adam Porter

Twice in as many months, the International Monetary Fund has spoken out over the current oil price shock, and when the IMF issues reports, markets read them.

Although it says there is no need to panic, some of the conclusions in the two reports – Oil Market Developments and Issues and World Economic Report: Will the Oil Market Continue to be Tight? – make unnerving reading. Especially for Opec countries who are called on to make radical changes.

Current predictions of future demand, such as those released by the International Energy Agency (IEA), are called “conservative” by the IMF. This throws into question future predictions about already tight supply.

The IMF goes on to point out that non-Opec production is set to fall over the next 25 years, peaking in 2010.
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