Europe may have averted an energy crisis for now but is ‘not out of the woods,’ says IEA chief

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Fatih Birol, Executive Director of the International Energy Agency, speaks to CNBC's Martin Soong on the sidelines of the G-7 leaders' summit in Hiroshima, Japan. He says 60% of the increase in oil demand is expected to come from China, and outlines the energy risks that Europe faces.

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