22 October 2012 04:22 [Source: ICIS news]
SINGAPORE (ICIS)--The global economic downturn and geopolitical uncertainties have created a "new reality of risk" for the international energy market, a senior official from the International Energy Agency (IEA) said on Monday.
"The good news [now] is that OPEC spare capacity is rebuilding to more comfortable [level]," said Maria van der Hoeven, executive director of the IEA.
She was speaking at the Singapore International Energy Week conference, which is held on 22-25 October.
Expectations of oil demand growth has been reduced amid the global economic uncertainty, while on the supply side there are expectations of more oil coming from ?xml:namespace>
Supply concerns have also eased somewhat, with
However, the ongoing political unrest in the Middle East and sanctions on
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