| The International Energy Agency's latest strategic oil release came "too little, too late", said Bank of America Merrill Lynch on Tuesday.
"The reserve release should come three months ago, when the crude prices didn't start to hike." said Francisco Blanch, head of BofA Merrill Lynch 's Global Commodity Research at the company's 2011 Mid-Year Review & Outlook Press Conference. Blanch was also afraid that IEA's crude release of 60 million barrels would not be enough to hold back the rising energy prices in medium and long term..............................................Full Article: Source
|