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Oil Price Is Still Historically High: IEA

Thursday, 21 Jun 2012 | 5:20 AM ET

"What we have seen happening in the past three months is the oil price coming down from about 125 to about 96, this is fine and what is fine as well is that the oil market is much better supplied then it was before, but let's not be complacent," Maria van der Hoeven, executive director at the IEA, told CNBC.