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UPDATE 1-High oil price hitting EU economic growth-Piebalgs

Written by: Staff
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DOHA, Apr 23 (Reuters) Oil prices above a barrel are harming European economic growth and eroding demand for petrol in the region, EU Energy Commissioner Andris Piebalgs said on Sunday.

''High oil prices are definitely destroying economic growth in the EU, boosting inflation and slowing consumption,'' said Piebalgs.

He said that the oil industry had not made enough investment to ease production and refining constraints which played a part in the oil price rally.

(Doha newsroom) REUTERS ARB BST1554

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