| Maria van der Hoeven, director of the International Energy Agency (IEA) has warned the recent moderation in world oil prices remained fragile and that high prices still poised a threat to world economies, AFP has reported.
"We still confront a situation where these near-triple-digit oil prices -- and in some cases it's made worse by local currency weakness -- are placing a huge burden on both domestic and national budgets," van der Hoeven said. The oil market is "well supplied" with Opec releasing extra oil, she said. But she added "Let's not say victory because that's too early."..............................................Full Article: Source
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