Little "destruction" to economies from $100 oil - IEA
MOSCOW (Reuters) - Crude oil prices of $100 will cause little destruction to the world economy despite a boost to inflation, especially in Europe, which could drag on recovery, IEA Chief Economist Fatih Birol told Reuters Insider.
"I don't see much destruction to the world economy from the current high oil prices," Birol said in an interview on Wednesday.
"I hope the oil prices will be lower than the current three digits by the year-end."
- Air strike kills 15 civilians in Yemen by mistake: officials
- North Korea executes leader's powerful uncle in rare public purge |
- Pope attacks mega-salaries and wealth gap in peace message
- Twitter users revolt over changes to abusive behavior policy
- Deal to quell budget wars sails through U.S. House |