As reported October 7, 2016 in The Barrel blog by Herman Wang, Reporter, S&P Global Platts.
The US is the world’s largest consumer of oil, as well as one of its largest producers, making it uniquely positioned at the recent International Energy Forum in Algiers.
The forum’s intent is to bring together oil producers and consumers every three years for two days of dialogue, analysis of energy trends, and promotion of greater transparency in energy markets.
This year’s forum was overshadowed by the OPEC meeting on the sidelines. Though the US is not a member nor is its oil industry state-controlled, the producer group’s decisions still resonate there, making the US’ representative at the IEF, Assistant Energy Secretary Jonathan Elkind, a keen observer of the proceedings.
The message he had for OPEC: transparency is good, market controls are not.
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