Oil demand estimates by major government forecasters are converging, an OPEC official said on Tuesday, although more effort is needed to improve the quality of data about the global market.
A lack of transparency about oil demand, supply and stocks has long been seen as a cause of excessive price swings. The Joint Organisations Data Initiative (JODI), which collects and reports data, is an attempt by producers and consumers to gain a clearer picture.
Aziz Yahyai, a senior research analyst at OPEC, showed a JODI information seminar in New Delhi a slide of oil-demand estimates from the International Energy Agency, the U.S. Energy Information Administration and the Organization of the Petroleum Exporting Countries. Read More
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