IEA Medium-Term Oil Demand

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Paul Kedrosky

Business Économie & finance

World Petroleum Congress

Demand Developments

Oil Industry Markets Division

Madrid, July 1, 2008
© OECD/IEA - 2007
2008

Are “Speculators” to Blame?

Price
Stock S1
build Investors enter the market:
• Price increases from P1 to P2
MEDIUM
B A • A stock build (A – B) is necessary
TERM P2 to balance the market in D1

Oil P1
Market
Report

D1

Q1 Quantity
© OECD/IEA
2008

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