{"id":10282,"date":"2010-03-11T08:52:56","date_gmt":"2010-03-11T07:52:56","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10282\/iea%e2%80%99s-tanaka-says-monthly-oil-forecast-little-changed\/"},"modified":"2010-03-11T08:52:56","modified_gmt":"2010-03-11T07:52:56","slug":"iea%e2%80%99s-tanaka-says-monthly-oil-forecast-little-changed","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10282\/iea%e2%80%99s-tanaka-says-monthly-oil-forecast-little-changed\/","title":{"rendered":"IEA\u2019s Tanaka says monthly oil forecast little changed"},"content":{"rendered":"

The IEA’s global oil demand forecast will likely be little changed this month, as economic uncertainty in developed nations overshadows emerging market growth, Executive Director Nobuo Tanaka said.<\/p>\n

The IEA, which advises oil consuming nations, will release its monthly report on global energy supplies and demand tomorrow in Paris. The US Energy Department and OPEC increased their estimates this week, citing demand projections based on an economic recovery.<\/p>\n

\u201cThere is so much uncertainty about the prospect of the economy,\u201d Tanaka said in an interview at an IHS Cambridge Energy Research Associates conference late yesterday in Houston. \u201cStructural change is happening\u201d along with \u201cgeopolitical risk and currency changes. Market players haven\u2019t really determined direction yet.\u201d<\/p>\n

The IEA last month boosted its estimate for global oil demand in 2010 by 170,000 barrels a day to 86.5 million barrels, saying developing countries need more crude to fuel their economies. That would mean a gain of 1.6 million barrels a day, or 1.8 percent, from 2009 levels, it said.<\/p>\n

\u201cThere is not much change in the underlying drivers in the market,\u201d he said \u201cThe number won\u2019t change very much.\u201d<\/p>\n

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