Events force IEA to recalibrate oil assessment methods

The International Energy Agency says game changing events including sovereign debt issues, China’s oil demand and the BP Gulf of Mexico oil spill have forced it to revise the way it assesses oil markets


The International Energy Agency (IEA) has revealed in its Oil Market Monthly report that it is forced to revise the way it analyses oil market-related forecasts and risk assessments as “game changing” market issues and trends have overturned traditional drivers.
“Unforeseen events and market trends repeatedly arise to recalibrate the way we look at the oil market,” says the Paris-based agency in its monthly report. “Conventional wisdom, assuming that market drivers will be the same in future

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