Oil prices will rise and could harm the economy if an expected supply shortage materializes later this year,
As per reports and information from our sources,Oil prices will rise and could harm the economy if an expected supply shortage materializes later this year, OPEC Secretary General Abdullah al-Badri said on Tuesday.Consumer countries urged the Organization of the Petroleum Exporting Countries to pump more to replace supplies shut down in Libya and to prevent fuel inflation hurting economic growth.
Malaysian Prime Minister Najib Razak said that global oil prices are expected to rise as the global economy recovers, though not at the dramatic pace of 2007.