International Oil Data Gaps

22 October 2009 @ 07:54 am EDT

In a supplement to the October 2009 Short-Term Energy Outlook, the Energy Information Administration (EIA) analyzed the inherent volatility of energy prices by looking at the options market. This supplement was the first product under the EIA's Energy and Financial Markets Initiative launched in September. The Initiative is aimed at examining all the variables that affect energy prices and price volatility. This issue is receiving global attention. The Energy Security and Climate Change section of the Leaders' Statement from the recent G20 Summit in Pittsburgh starts by stating that "Inefficient markets and excessive volatility negatively affect both producers and consumers." First in a list of specific steps undertaken individually and collectively by the leaders is a commitment to "increase energy market transparency and market stability by publishing complete, accurate, and timely data on oil production, consumption, refining and stock levels, as appropriate, on a regular basis, ideally monthly, beginning by January 2010."

For more commodities information, go to www.eia.doe.gov

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