IEA Head Warns Oil Supply Could Tighten Again

IEA Oil Market Report for September 2005, table 2 lists OECD demand of 49,47 Mb/d for 2004.For 2005 the subject report lists demand for OECD to 49,88 Mb/d.Non-OECD demand is projected to grow to 33,60 Mb/d in 2005, up from 32,66 Mb/d in 2004. OECD stocks was in July 2005 2 667,4 Mb versus 2 575,6 Mb in July 2004, in other words a stock build of approximately 90 Mb.

All of this translates into expectations of increased demand later
this fall and winter, and as it now looks as supplies will not meet
projected demand, it should thus be expected that prices again will
head north.

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