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Non-OECD countries to shape oil supply, demand: IEA's Mandil
Platts
Athens
Petroleumworld.com 02 28 06
Non-OECD countries are said to be "the driving force" for oil supply and
demand in the coming years, IEA Executive Director Claude Mandil said at an
energy conference in Athens Tuesday.The Chinese oil demand outlook, he said, is for a rise to 9 million b/d
from the current level of 3 million b/d by 2030, while the deferred investment
scenario could also lead to a price hike with dropping production from the
OPEC countries.Senior energy analyst at the Center of Global Energy Studies, Julian Lee,
meanwhile, said he expected to see a 10% drop in oil prices by 2012, due to a
"sustained assault on oil's position in the transportation sector." Biofuels,
he said, have received "a huge political push" in recent years, while other
alternative fuels including hydrogen cells were also beginning to make an
impact.According to the CEO of Greek state oil company Hellenic Petroleum, Panos
Cavoulacos, oil's position in the transportation fuel mix is "of concern." But
demand should remain high. "Let's not forget how slowly automotive fuels turn
over. Gasoline in countries like Indonesia and China is also very heavily
subsidized, and they will be using it for at least the next 20 years,"
Cavoulacos said.For more news, request a free trial to Platts Oilgram News at
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Platts 27 02 07
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