International Energy Agency: Rising oil price endangers recovery

08/4/2009 | Financial Times (tiered subscription model)

If the price of oil rises much higher than $70 a barrel, the increased cost of energy will put the world's economic recovery in doubt, said Fatih Birol, chief economist of the International Energy Agency. "If we go one step further, if we see prices go much higher than that, we may see it slow down and strangle economic recovery," he said.

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