Thursday, October 30, 2008

IEA long term oil market forecast due mid November

The International Energy Agency releases World Energy Outlook 2008 on November 12. The Financial Times yesterday published two articles based on a draft version of the outlook and the IEA says, appear "to be based on an early version of a draft from several months ago that was subsequently revised and updated."

The FT wrote, "Output from the world’s oilfields is declining faster than previously thought, the first authoritative public study of the biggest fields shows. Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent." has more.



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