IEA: oil price volatility negated by non-OECD demand

The International Energy Agency (IEA) says that non-Organisation for Economic Co-operation and Development (OECD) countries’ energy demand negates the volatile effects following BP’s Gulf of Mexico oil spill

The global economic recovery and the continual growth of non-OECD energy demand are some of the factors keeping short-term and medium-term supply risks from creating volatile oil market prices, says the Paris-based IEA in its September Oil Market Monthly Report.

"For the time being, nagging concerns over the robustness of economic recovery, a US gasoline season, which ended with a whimper and questions on the durability of still robust non-OECD demand growth are holding at bay perceived short-