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International Energy Forum

The International Energy Forum (IEF) is the largest recurring global gathering of Energy Ministers. Unique in that its composition encompasses not only IEA and OPEC countries, but also powerhouse Russia and the emerging giants China and India. The IEF gathers participants from more than 70 countries accounting for more than 90% of oil & gas production and consumption. It is a biennial manifestation of international political intent to address through dialogue a common understanding of both supply and demand-side implications of energy interdependence, especially as they relate to global energy security.

 
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H.E. Martin Ferguson, Australia: Energy security is a major geopolitical issue of our ti    As a key energy supplier in the Asia-Pacific region and net oil importer, Australia is acutely aware that our economic prosperity, and the prosperity of all consumers and producers, will be greatly af
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Peter Voser, Royal Dutch Shell: A Vision for the Consumer-Producer Dialogue    Throughout the economic crisis, governments have acted with decisiveness and imagination. In shoring up the financial system, policy-makers have acted across borders and against the clock. For the mos
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Oil Supply and Demand

2007 Million Barrel per Day

OPEC

Estimates

IEA

Estimates

Demand

85.8

86.0

Supply:

84.8

85.5

 Crude & NGL      Non-OPEC 49.4 49.6
Crude      OPEC 30.97 31.1
NGL         OPEC 4.4 4.8
Balancing item (1.0) (0.50)