Oil prices rising too high, too fast: Total CEO

REUTERS

Global oil prices have risen too high, too quickly but increased OPEC output will not stem the rise as the climb is driven by demand, the chief executive of French oil major Total said on Sunday.
"The world economy is just recovering," Christophe de Margerie told Reuters ahead of an energy conference in the UAE capital Abu Dhabi. "It would have been better for the prices not to go too high too quickly.
"The market is bullish because there is increasing demand in emerging markets ... it (demand) is higher than expected."

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