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LONDON (Dow Jones)--The International Energy Agency Friday warned that higher oil prices may threaten the economic recovery next year, sending the clearest message to date on the risks of a price hike after the barrel rose to nearly $90 a barrel.
The energy watchdog balanced the warning with a boost of its global oil demand growth forecast by 200,000 barrels a day for this year, hard on the heels of a similar upgrade by the Organization of Petroleum Exporting Countries.
In its monthly report for November, the IEA said its forecasted slowdown of economic growth "would not support sustained high prices in 2011."
"'Be careful what you wish for' might be a valuable adage for more bullish market advocates," said the IEA, which represents the world's most industrialized countries.
The warning comes after the price of oil rose to $89.70 a barrel Thursday and after some oil producers said high prices wouldn't hurt the economy or should even rise higher.

November 12, 2010 04:04 ET (09:04 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.

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NEW DELHI (AFP)--India's environment minister attacked the use of large gas-guzzling sports utility vehicles, or SUVs, on Indian roads as "criminal" on Friday, the Press Trust of India reported.
At a U.N. workshop on low-carbon transport in India, Jairam Ramesh called for minimum fuel efficiency standards and said his country should overhaul its subsidy system for diesel, after deregulating petrol prices in June.
"The use of vehicles like SUVs and BMW in countries like India is criminal," Ramesh said.
"We have reformed policy as far as petrol is concerned. We are yet to reform as far as the net effect of diesel subsidy is concerned."
He added that the diesel subsidy primarily benefited owners of expensive cars, and not ordinary people.
Ramesh said the transport sector's contribution to greenhouse gas emissions were expected to reach 15% by 2030.
"We are worried and we are looking at how to control these emissions from transport sector. For this to happen, there should be mandatory fuel efficiency standards," he said.
Since his appointment last year, Ramesh has carved out a reputation as a green crusader, most recently denying environmental clearances to the U.K.-based mining company Vedanta Resources PLC in August.
He dismissed the prospect of electric cars as a viable option for Indian commuters because of electricity shortages across the country.

(END) Dow Jones Newswires
November 12, 2010 05:54 ET (10:54 GMT)

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Machen Sie sich also auf stark steigende Ölpreise zu Ihren Lebzeiten gefasst.