More Oil Would Not Deflate Oil Price: IEA

(Reuters) – The world does not need more oil to moderate record prices, but more investment in output capacity to cope with supply shocks, the head of the International Energy Agency told Reuters on Monday.

IEA chief Claude Mandil also said that the OPEC exporter group is powerless to bring down oil prices without an easing of political tensions in the Middle East and other global hotspots.
Reuters