Oil market pricing agencies need no more reviews - IOSCO

* Price reporting agencies adhering to IOSCO principles

* No more annual reviews needed - IOSCO

* But monitoring of price agencies to continue

By Lisa Barrington

LONDON, Sept 17 (Reuters) - The oil market's price-setting agencies will not need to have their compliance with industry-agreed reporting standards reviewed for the foreseeable future, international regulators said on Thursday.

The International Organization of Securities Commissions (IOSCO) decided that price reporting agencies (PRAs) were adhering to industry guidelines published in 2012.

"IOSCO, IEA, IEF and OPEC do not believe that further annual implementation reviews will be necessary at this time," the regulator said, referring to the International Energy Agency, the International Energy Forum, and the Organization of the Petroleum Exporting Countries.

However, the activities of PRAs will continue to be monitored, IOSCO said.

IOSCO's Principles for Oil Price Reporting Agencies were written after a request in 2011 from the Group of 20 (G20) top economies, under pressure to curb speculation blamed for huge swings in the oil market, to look at the role of PRAs.

The principles cover a number of areas including internal quality control, conflict of interest and complaints processes.

In last year's review, IOSCO said it had no plan to further align guidelines for oil PRAs with those for financial market benchmarks.

The leading oil pricing agencies are Platts, a unit of McGraw-Hill ; ICIS, part of RELX (LSE: REL.L - news) , formerly called Reed Elsevier (Other OTC: RUKEF - news) ; privately held Argus Media and privately held OPIS Oil Price Information Service. They produce price assessments based on deals, bids and offers in opaque physical markets.

Thomson Reuters (Dusseldorf: TOC.DU - news) , the parent of Reuters news, competes with Platts, Argus, ICIS and OPIS in providing news and information to the oil markets. (Editing by Dale Hudson)