IEA’s Birol says $100 oil ‘real risk’ for global economy

2022.11.09 10:13

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IEA’s Birol says $100 oil ‘real risk’ for global economy

Budrigannews.com – The head of the International Energy Agency (IEA) said on Wednesday oil prices “flirting with $100” were a real risk for the global economy, adding that he was surprised by the OPEC+ decision to cut output at its Oct. 5 meeting.

“Those countries (oil producers) in the past took decisions which did comfort the oil markets…this decision may put further upward pressure on inflation and weaken the global economy,” Birol told Reuters on the sidelines of the COP27 climate conference in Egypt.

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IEA’s Birol says $100 oil ‘real risk’ for global economy