Agence France-Presse . Paris

The International Energy Agency tacitly accused OPEC Friday of increasing pressure on a vulnerable world economy by its refusal to pump more oil to help bring down crude prices.

‘While the Organisation of Petroleum Exporting Countries has decided to leave output unchanged, crude oil supplies remain very tight, as the IEA has noted for the past six months,’ the Paris-based agency said in a statement.

‘Very high oil prices may be adding additional pressures to currently significant economic risks,’ the statement said. The IEA represents the interests of oil consuming countries.

The oil cartel at a special meeting in Vienna on Friday argued that a financial crisis triggered by the subprime mortgage sector in the United States, rather than a lack of oil, was the most pressing problem for the global economy.

The agency said it was ‘concerned about global economic growth, which is in the interest of both consumers and producers.

Comments

Add New

Write comment
Name:
Email:	We don't publish your mail. See privacy policy.
Title:
	Please input the anti-spam code that you can read in the image.