IEA sees oil supply crunch looming
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World oil demand will rise faster than expected to 2012 while production lags, leading to a supply crunch, the International Energy Agency said on Monday.
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URGENT action is needed to ensure sky-high oil prices do not derail the global economic recovery, the International Monetary Fund said yesterday.
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World demand for oil will rise more than expected while supplies will remain tight up to 2012, experts say.
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PARIS  - The International Energy Agency trimmed its forecast for growth in global oil demand next year but warned that prices were likely to remain high and dismissed producer fears of a sharp fall as &quot;overstated.
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The International Energy Agency said that higher petroleum prices would hurt economic growth around the world next year.
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The International Monetary Fund yesterday issued a warning that record oil prices will stunt the growth of the global economy next year and oil prices are likely to remain high for 10 years or more.
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Record oil prices are having a limited impact on the global economy but the risk of economic disruption remains high, the head of the International Monetary Fund said Thursday.
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The Organization of Petroleum Exporting Countries has warned that the drive for environment-friendly bio-fuel risked pushing oil prices &quot;through the roof,&quot; the Financial Times reported Wednesday.
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Oil edged further above $70 a barrel   on Friday, as traders anticipated waiting several weeks before   the United Nations decides on sanctions against the world's   fourth-largest oil exporter Iran.
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A new report by the Paris-based International Energy Agency says world energy demand is expected to surge by up to 60 percent by the year 2030.
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Ministers of the Organisation of Petroleum Exporting Countries expect oil prices to rise this week as they plan to demonstrate that they are serious about implementing
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The European Union&#39;s head office issued a bleak economic report Tuesday, warning that the sharp rise in oil prices will &quot;take its toll&quot; on economic growth next year while the euro&#39;s renewed climb could threaten crucial exports.
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A global economic slow-down is looking more likely because of higher oil prices and a US housing dip, the IMF warns.
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Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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WASHINGTON: Global finance chiefs may admit this week that soaring oil prices are a cloud on a generally sunny world economic horizon but they will likely dismiss any chance they could drown growth.
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The head of the Organization of Petroleum Exporting Countries forecast on Monday global crude prices would soon fall, partly because of expected supply increases from Iraq.
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Business & money: Â· IEA attacks countries with tight grip on production  Â· Demand for gas and oil growing faster than ever