IEA: Oil Prices Moving Higher in Tandem With Supply-Side Risks

5:15 AM ET Wed, 14 March 2012

Maria van der Hoeven, executive director at International Energy, told CNBC, "there is of course a certain amount of tightening what we have seen in the past few months that is that non OPEC countries there were some problems in the supply, we have seen problems in Sudan and Syria and that means that there is from those countries less oil on the market, on the other hand the Gulf countries have been producing more."