Oil producer's group responds to consumer fears

摘要

"Security of demand is as important as security of supply" said OPEC's Secretary General in March just as its latest MOMR report was being released. The IEA has been giving its views on "the big picture" too. NOT OFTEN DO top representatives of the main producer and consumer groups comment simultaneously on major supply/demand issues surrounding oil. But such an occasion took place last month at the 13th International Energy Forum Ministerial in Kuwait. The issue of the moment is of course the continuing rise of prices, with WTI increasing by five per cent in February alone; that's up 20. per cent this year. Neither side is happy with this. The International Energy Agency's views are well known and were the subject of a special feature, "Excellent prospects for Africa's oil", in the last ORA (Issue One). We update this with a summary of Executive Director Maria van der Hoeven's views, as stated in the Gulf, below.