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OPEC and IEA Still Pricing Oil Too High: Expert

Friday, 13 Jul 2012 | 2:10 AM ET

"Everybody talking about the strength in oil prices fails to see that we have only had a small increase with a risk of a big disruption in Norway, more sanctions against Iran and still oil prices haven't done much so I think demand is the big big issue here," Daniel Lacalle, senior portfolio manager at Ecofin, told CNBC.