High crude oil prices might trigger an economic recession and dampen oil demand, the head of the International Energy Agency, or IEA, said Tuesday.
The statements will add to worries after the world's biggest oil producers and consumers said Monday at a conference in Rome that record-high oil prices are threatening global economic growth prospects.
Speaking to reporters on the sidelines of the same conference, Nobuo Tanaka, executive director of the IEA, said "that's possible" when asked if oil prices could lead to recession.
He also said the price is "too high" for both consumers and producers and "can dampen demand."