IEA Head:OPEC Plea For Demand Security Not A Serious Issue

The Organization of Petroleum Exporting Countries’ plea to have in place guarantees of oil demand in order to underpin multibillion dollar investments in expansion fell on deaf ears Friday, when the head of the International Energy Agency described it as not a serious issue.

At the Petrostrategies oil conference here, the IEA’s Executive Director Claude Mandil said: “I agree that this is a topic for discussion. But I really don’t think it’s a serious issue because the answer is available right now.”

The quality of energy data in consuming countries is better than in producing countries, he added.
Schlumberger