IEA warns against new oil price increases

The price of oil has risen significantly this year to the current price of USD 71. This level makes the IEA warn against consequences for new price increases.

BY SØREN PICO, SHIPPINGWATCH

The price for a barrel of oil has now increased to a level that is possibly unsustainable in the long-term, according to an assessment by the International Energy Agency (IEA) following a substantial increase of the oil price to a current level of USD 71. The increase figures in a monthly report by the name "Mixed signals", which the agency has just published.

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