Next IEA Chief Tanaka Vows to Spur Dialogue with Oil Market

Nobuo Tanaka, who will become the new head of the International Energy Agency in September, said Friday that the IEA under his leadership will boost dialogue with oil markets as part of its efforts to keep global oil prices in check.

“There is a lot of unpredictability and geopolitical difficulties in the energy area. So this makes an easy target for speculation,” Tanaka said, referring to the volatile global oil market.
Tanaka, originally from Japan’s Ministry of Economy, Trade and Industry, said he sees it as important to ensure transparency in the oil market, but that he does not support the idea of “controlling” speculative funds in the market, which some see as the reason for increasingly high prices.

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