Tuesday, February 20, 2001
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes)
India's first e-business paper
flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
 

IEA oil outlook revision worries Opec members 

REUTERS  
London, Feb 19: Some Opec member countries are concerned that revisions by the International Energy Agency (IEA) for this year's oil market outlook are contributing to price volatility, Opec delegates said on Monday.

"The IEA-reports make changes to their numbers creating uncertainty in the oil market," said one senior delegate. "This uncertainty makes a contribution to instability."

Opec insiders were particularly perturbed about last week's monthly IEA oil market report which revised down the outlook for global oil demand growth this year by 140,000 barrels a day to 1.5 million bpd. ``This does not help create a stable oil market,'' another Opec delegate said.

Oil fell about two dollars per barrel last week, partly, said traders, as a result of the IEA revisions.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 2001: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.