|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
22nd of May 2011
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
May 20, 2011    

IEA: Oil supply could threaten global recovery

Bookmark and Share

by Kay Murchie
”IEA:

Paris-based International Energy Agency (IEA) has warned that rising oil prices pose a risk to the global recovery by reducing spending power and fuelling inflation.

The agency is urging oil producers to increase supplies to avoid “derailing the economic recovery”.

The agency said it is seriously concerned that “there are growing signs that the rise in oil prices since September is affecting the economic recovery by widening global imbalances, reducing household and business income, and placing upward pressure on inflation and interest rates.”

Oil prices have been soaring amid the civil unrest in Libya and the Middle East.

The International Monetary Fund (IMF) recently said the global economy is faced with many challenges – one of them being rising oil prices.

US light crude currently stands at $98.44 a barrel, while Brent crude is $111.42 a barrel.

Discuss this in the Finance Markets forums

Story link: IEA: Oil supply could threaten global recovery



Financial Services:





Related financial stories to: IEA: Oil supply could threaten global recovery:
Previous: «
Next: »

Visited 261 times, 5 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , IEA, , International Energy Agency, oil supplies, , , unrest

 

Economy News feed Economy News

All Financial News feed All Financial News