According to concluding statement of "Extraordinary IEF Ministerial Meeting" (Feb 22,2010), my favourite oil database will include natural gas data as well as capacity additions.(IEF : International Energy Forum) is a website publishing oil statistics for both exporting and importing countries'.

Starting from the final word, the dialogue forum aims to:

  • Mitigate energy market volatility and future uncertainty
  • Better data transparency-Internationally coordinated regulation
  • a better common understanding of energy market trends and energy outlooks

Concluding statement has a summary of three different discussions:

1. Physical and financial markets’ linkages and energy markets regulation : no censensus

  • 1st group "underlined the role of excessive financial speculation in the surge in prices and volatility"
  • 2nd group "especially those involved in price reporting, felt that spot markets set their own prices, independently of any influence from financial markets"
  • 3rd group "it is difficult to construct theoretically and test empirically ... whether market drives the physical or the other way around. "

2. Shared analysis of energy market trends and outlook

Aim: improve clarity and understanding of the various outlooks. (there are comparisons between IEA and OPEC's forecasts)
  • both the IEA and OPEC’s projections were similar in terms of supply/demand growth figures for 2011
  • uncertainities : future demand, economic growth and technological change.

3.Jodi Database (most importantly)The extension of JODI to cover monthly natural gas data is now well under way, The extension of JODI to annual data on upstream and downstream capacities and expansion plans will start with oil and is currently under way, with first results expected at the earliest in 2012.

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