Jan 17, 2011

IEA chief warns of tighter oil market in 2011



International Energy Agency chief Nobuo Tanaka warned on Monday of tighter oil supply over the next year, thanks to a more robust global economic recovery and declining oil inventories in the industrialized world.
"The economic recovery is becoming robust," Tanaka said in Abu Dhabi where he was attending the World Future Energy Summit. "OECD stocks have declined, so the market could be tighter next year." 
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Source: The Platts

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