IEA: High Oil Price Magnifies Econ Impact of Supply Snags

Sky-high oil prices are amplifying the impact that any supply disruption could have on the global economy, an official from the Paris-based International Energy Agency warned Thursday.

“Now when prices are so high, even a small supply disruption could cause economic damage,” Klaus Jacoby, head of the IEA’s emergency response unit, told Dow Jones Newswires. “The quantity of a disruption could be less important but could create severe damage.”
Schlumberger