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Message: IEA Head: 09 Non-OPEC Oil Supply -500,000 B/D Vs 08

IEA Head: 09 Non-OPEC Oil Supply -500,000 B/D Vs 08

posted on May 12, 2009 02:58AM


UPDATE: IEA Head: 09 Non-OPEC Oil Supply -500,000 B/D Vs 08



(Adds details and comments)



WARSAW -(Dow Jones)- The International Energy Agency expects oil production from Mexico and other non-Organization of Petroleum Exporting Countries members to fall by 500,000 barrels a day in 2009, IEA Executive Director Nobuo Tanaka said Tuesday.

The outlook is lower than previously expected as the IEA, an energy advisor to many of the world's biggest oil consuming nations, forecast in April that output from non-OPEC producers would fall by 380,000 barrels a day.

Speaking at a news conference in Warsaw to mark Poland joining the Paris-based IEA, also called on OPEC to maintain its output to help the global economic recovery. OPEC is scheduled to meet May 28 in Vienna to review its output policy.

"We want to see a flexible decision process" from OPEC," Tanaka said.

The IEA is the energy watchdog of the Organization for Economic Cooperation and Development.



-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2430; marynia.kruk@dowjones.com



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(END) Dow Jones Newswires

May 12, 2009 06:36 ET (10:36 GMT)


Copyright (c) 2009 Dow Jones & Company, Inc.





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