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Page added on April 20, 2009

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China needs to improve its oil demand data

OPEC, which meets again next month, could cut output without driving oil higher if there is limited demand for its crude, but it is too early to predict May fuel consumption rates, the IEA’s head said on Monday.
The International Energy Agency welcomed OPEC’s decision in March to maintain existing output targets to help moderate oil prices with a view to cushioning a fragile world economy.
In its latest demand outlook, the IEA said demand was much lower than it had previously thought, removing some of the pressure from the Organization of the Petroleum Exporting Countries to maintain supplies.
Guardian



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