XCHAOS:
http://www.ft.com/cms/s/0/dd1e9400-7ef1-11df-8398-00144feabdc0.html
Published: June 23 2010 19:28 | Last updated: June 23 2010 22:18
Oil and natural gas markets are set to remain oversupplied until 2015, the International Energy Agency said on Wednesday
In oil, the IEA revised upwards its forecast for rises in global crude consumption to 1.2m barrels a day per year, taking it by 2015 to a total of 91.9m b/d. But it also marked up its projection of global supplies in five years’ time to 96.5m b/d, leaving an ample cushion of spare capacity.