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Supply risks still haunt market despite high oil prices: IEA

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High oil prices have yet to dampen demand which is set to continue rising and may soon outstrip supply, the International Energy Agency warned.

GETTY IMAGES NORTH AMERICA/AFP/File | David Ryder

"Without strong policy intervention on energy use, risks remain high that the world economy falls off-track for recovery," the Paris-based agency that advises industrialised nations on energy policy said in its latest monthly report on oil markets. The IEA now expects oil demand to rise this year to 99.2 million barrels per day and to 101.3 mbd next year.

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