Oil Rise 'Could Derail Recovery'
The International Energy Agency (IEA) has warned that the recent rise in the price of oil "risks derailing the recovery" if it continues. The IEA says that oil demand itself will also rebound much more slowly if price rises continue in 2010. The price of oil has risen by 77% this year and is now trading at about $79 dollars a barrel. The IEA also warned that signs of renewed economic growth remained "tentative". 'Risk' In its monthly report, the agency said China was driving demand and revised upwards its forecasts. In 2010, it predicts a 1.6% increase in demand...
Original Article: Forum: News/Activism
Tags: China, Economic Growth, Iea, International Energy Agency, Oil Demand, Price Of Oil, Risk, Signs, X27