皇冠体育app

皇冠体育app not sole impetus to soaring oil price
(Xinhua)
Updated: 2005-05-29 09:04

Though a major oil demander, 皇冠体育app should not be taken as the sole factor pushing up global oil prices, said an oil expert from the Paris-based International Energy Agency (IEA) in east 皇冠体育app's Shanghai Municipality on Saturday while attending a local forum.

Last year's explosive demands for oil worldwide helped bring global oil prices to a record high, said Lawrence Eagles, head of the IEA's oil market division, disagreeing at the accusation that 皇冠体育app should be held individually accountable for the price hikes.

The oil analyst attributed 皇冠体育app's increasing demands for oil to fast economic development and called for a more facilitating attitude worldwide toward 皇冠体育app's growing opulence.

He said 皇冠体育app's per capita oil consumption was far less than that of the developed nations such as the United States, Japan and Germany as well as some developing peers, describing the skyrocketing oil demands last year as an "universal" phenomenon.

According to the oil expert, 皇冠体育app's oil demand is decreasing and should not arouse panic in 2005.

While commenting on 皇冠体育app's strategic oil reserve, Eagles said if 皇冠体育app takes proper steps in this regard and increases transparency in the whole process, global oil speculators would have little space to bet in 皇冠体育app.

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