IEA Exec Director Birol: Higher oil prices detrimental to global economic growth

International Energy Agency Executive Director Fatih Biro was out on the wires in the last hour, saying that oil demand growth is still significant and urged key oil producers to bring more barrels to the market. 

Key quotes:

   •  Given oil demand growth, output cuts may not be the right step. 
   •  Higher oil prices detrimental to global economic growth.