Obama Unfazed By Impact Of Rising Oil Prices

United States president Barack Obama has said that he feels the global economy can bear the current spike in oil and energy prices report Jeff Mason and Amena Bakr for Reuters. Obama’s comments came as key US ally Saudi Arabia vowed to increase output to cover any shortfall from Libya. Unrest in Libya has seen a decline in that country’s oil output, as foreign companies seek to evacuate staff from operations. Brent crude prices reached highs unseen in 30 months as they edged near $120/barrel. Speaking to a group of executives, Obama said :” We actually think that we’ll be...