Energy Agency Calls for Rise in World Oil Output

NY Times reports that on Thursday, the International Energy Agency called for an increase in world oil production.

The market news is quoted as saying:

After a two-day meeting, the International Energy Agency’s governing board issued a statement expressing “serious concern” at “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.”

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