LNG

Feb 10 (LNGJ) - The recent crash in oil prices that has affected LNG and other energy markets will cause a rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report. "This unusual response to lower prices is just one more example of how (US) shale oil has changed the market," said IEA Executive Director Maria van der Hoeven, who launched the report at the Energy Institute's International Petroleum Week in London. "OPEC's move to let the market rebalance itself is a reflection of that fact. It may have effectively turned US light, tight oil (LTO) into the new swing producer, but it will not drive it out of the market. LTO might in fact come out stronger," Van der Hoeven added.