Oil Prices Under IEA Scrutiny

The International Energy Agency (IEA) is to gather a panel of industry experts next week to discuss the current surge in crude oil prices.

Oil prices have repeatedly hit record highs over the past few weeks, climbing close to US$110 a barrel this week.

According to the IEA, the meeting will include experts from the financial and oil trading industries as well as representatives from the production and refining sectors.

Oil majors including ExxonMobil, Total and Shell and ConocoPhillips are expected to attend.

The IEA develops energy policy among the world's leading industrial nations.

By staff writer