IEA Demands That the Oil Producing Countries Take Measures to Protect Economy

According to the report of Routers, Paris, the member countries of IEA claimed in the announcement after having finished the two-day council that the IEA strongly requested that oil producing countries take measures to protect economy.



As long as the IEA, headquartered in Paris, the energy consulting institution of OECD is concerned, this is a rather different request to make. Because one of the policies put forward by the OECD is not to comment on any policies made by the oil producing countries.Along with economic development, we should protect the environment, especially water and oil resources. Nowadays, advanced technology provides us with clarification filter and fluidics air flotation to manage water and oil disposal. To further improve the water quality, water demineralization device guarantees our human beings a safer place to live in.





It was noted by the member countries in the announcement that the council of IEA strongly demanded that the oil producing countries take measures to help avoid another global economic slump which might lead to a further market contraction. As a result, member countries of IEA are looking forward to the promise of enhancing oil production and supply.



Addison Armstron, the energy research director of Tradition Energy, noted that the market is currently looking for trading clues in the development trend of dollar. The oil price seems to be unable to break-through the price of one hundred per barrel.



The IEA declared in 19 that the oil producing countries should increase supply because the high oil price is threatening the recovery of global economy.



Although the oil price increases above 120 dollars per barrel, the OPEC still maintains the oil production goal of this organization unchanged since it believes that currently the market is experiencing sufficient oil supply.



OPEC stressed in the monthly report on 11, May that there was nothing surprising about the rapid decrease in oil price in 5 and 6 of May.



The next official meeting of OPEC will be held on 8, June, in the capital of Austria, Vienna, which is also the Headquarter of OPEC.



IEA must have smelled the possibility of a potential oil crisis. For oil producing countries, enhancing oil production can only relieve the market of the present situation of oil supply shortage for a short moment. It does not provide an effective solution to settle this problem essentially. The special feature of oil industry has justified the uneven-interest distribution. Unilaterally requesting oil producing countries to enhance oil production instead of seeking the root cause of the problem will only add insult to the injury. The economic recovery is coupled with a series of problems such as inflation and increased price of products in the market. Under this circumstance, decision makers should encourage producers of general products to expand market. When it comes to oil, a policy of encourage oil exploration and energy saving should be advocated.