15.12.2011 - World at risk of ‘significantly higher’ oil price, IEA says
The world is at risk of “significantly higher” oil prices unless Middle East countries invest more in production, according to the chief economist for the International Energy Agency.“Less oil than today would not be helpful,” the IEA’s Fatih Birol said. Birol was asked what the Organization of Petroleum Exporting Countries might decide about output when it meets today in Vienna. “Given the market condition we have and the very fragile economic recovery, any production lower than today’s level will not be good news,” Birol said...............................................Full Article: Source
Print