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Apr 2001, as Joint Oil Data Exercise, following the 7th International Energy Forum in Riyadh (Saudi Arabia), to raise the awareness of all oil market players of the need for more transparency in oil market data. Six international organizations were involved: C-XD2469 - Asia-Pacific Economic Cooperation (APEC); E-XE7358 - Statistical Office of the European Union (Eurostat); E-XE5314 - International Energy Agency (IEA); D-XD5835 - Latin American Energy Organization; C-XC3038 - Organization of the Petroleum Exporting Countries (OPEC); H-XE5890 - United Nations Statistical Office (UNSTAT). Within 6 months, 55 countries had participated in the exercise, and after one year there were over 70 participating countries representing 90 percent of global oil supply and demand. Following approval of the work commenced thus far at the 8th International Energy Forum, 2002 Osaka (Japan), the exercise became a permanent reporting mechanism and adopted the current title.


Improve the availability and reliability of oil data.


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