Questions over stocks driving oil prices

04/26/2004
Taking stock of the oil market these days can get complicated, especially when it comes to—well, oil stocks.First, there is the International Energy Agency, which apparently has gotten fed up with being the whipping boy on tracking crude oil inventories.IEA's complaintIn its April oil market report, IEA takes issue with some producers within the Organization of Petroleum Exporting Countries for referring to the agency's supply-demand balances as justification for the group's decision to cut output quotas by 1 million b/d as of Apr. 1.IEA contends that its widely watched market report category, "call on OPEC plus stock change" is merely the amount of crude oil necessary f...
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