IEA/IEEJ Forum on Global Oil Market Challenges

26 February 2010

IEA Executive Director Nobuo Tanaka delivered an opening address at the Forum on Global Oil Market Challenges, which was held jointly with the IEA and the Institute of Energy and Economy of Japan (IEEJ) and sponsored by Japanese Ministry of Economy, Trade and Industry. 

This was an open forum built on the extensive discussion that took place in a closed expert-level work shop the previous day. More than 300 people from industry, government, press and research institutions attended.

In his presentation, Mr. Tanaka highlighted the importance of reducing uncertainty about fundamentals and how taking various measures towards achieving a better functioning oil market is necessary to reduce volatility. Among many distinguished speakers, Mr. Scott O’Malia, the Commissioner of the US Commodity Futures Trading Commission, explained their work on increasing transparency, financial reform and position limits.