IEA Calls on Oil Producers to Act as Prices Risk Recovery
This article is for subscribers only.
The International Energy Agency said that oil producers need to increase supplies as prices are threatening the global economic recovery.
Brent crude rose to a 2 1/2-year high of $127.02 a barrel on April 11 on the ICE Europe Futures exchange as armed conflict in Libya halted exports from the holder of Africa’s largest reserves. The Organization of Petroleum Exporting Countries, responsible for 40 percent of global supply, will meet on June 8 in Vienna to review production targets.