| Crude has jumped to $100 a barrel from $75 in October amid signs the US economy will likely avoid a recession. High oil prices threaten to worsen a global economic slowdown and crude producers should consider boosting output, the chief economist for the International Energy Agency said on Wednesday.
"The current high oil prices have the potential to strangle the economic recovery in many countries," Fatih Birol said in a speech in Singapore. "I hope that high oil prices don't slow down Chinese economic growth and the negative effect that would have on the global recovery."..............................................Full Article: Source |