Do More With Reuters
Partner Services

IEA sees oil easing, then tightening to 2013 -paper

Sat Jul 5, 2008 7:41pm IST
 
Email | Print | | Single Page
[-] Text [+]

FRANKFURT, July 5 (Reuters) - The situation on the oil market is likely to ease in 2009/2010 as more production comes onstream, then tighten again through 2013 as output falls and demand rises, the head of the International Energy Agency said.

"The market situation will certainly remain tight until 2013," Nobuo Tanaka told German business daily Handelsblatt in an interview released ahead of publication on Monday.

In a summary of the interview distributed on Saturday, Tanaka urged oil producers to increase investment and consumers to save energy.

Developing countries must end the practice of keeping petrol prices artificially low and industrial countries must not reduce taxes on petrol at the pump, which would send the wrong signal to consumers, the paper quoted Tanaka as saying.

Earlier this week, Tanaka told Reuters in an interview that the world oil market was very tight, leaving it vulnerable to several factors that could boost crude prices further.

For the Reuters interview, please click on: [ID:nL01396438]

(Reporting by Jonathan Gould, Editing by Peter Blackburn)

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India during the Reuters India Investment Summit in Mumbai and Bangalore.  Full Coverage | Blog 

Hugh Hefner
PLAYBOY SALE
An icon bows to changing times

With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article