James Thew/Adobe Stock
A major fight between the OECD and the IEA might finally lead the organizations to separate. Big, multinational commodity houses are all seemingly refocusing on their core businesses.
OECD and IEA Might Separate
The West’s energy watchdog, the International Energy Agency, faces a possible legal split from its parent body following decades of friction and fresh disagreements over cooperation with China, a document seen by Reuters shows.
Any divorce from the Paris-based founder, the Organization for Economic Cooperation and Development, might complicate funding and confuse governance of the IEA, whose role includes coordinated stocks releases to address global oil shortfalls.
Big Commodity Trade Houses Change Strategy
Commodity trade houses are going back to their roots and focusing on what they know best, whether it’s energy, metals or agriculture, while shedding peripheral activities.
From the world’s largest independent energy trader Vitol‘s retreat from agricultural markets, to trade house Gunvor pulling out of metals and Archer Daniels Midland disposing of its chocolate and cocoa businesses, traders are concentrating back on their historically strong activities.