Oil demand estimates converging but better data still needed: OPEC


Oil demand estimates converging but better data still needed: OPEC

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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