Publications: Notes at the Margin

Pure Fiction: The Errors in the IEA Monthly Forecast (July 13, 2015)


The title of this Notes at the Margin is deliberately provocative. Last Friday the International Energy Agency issued its July 2015 Oil Market Report (OMR). Those who suffer from high blood pressure and/or who believe the oil market is tightening should not read it lest they suffer a stroke or coronary. The document is rife with inaccuracies. Furthermore, the authors seem to exhibit the standard bureaucratic attitude in their presentation: “We know everything and we never make mistakes.” Unfortunately, the IEA is seldom right. In this week's Notes at the Margin we highlight some of the important mistakes in the IEA’s July 2015 report.


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