Oil prices threaten global recovery
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The recent jump in world oil prices has cast a cloud over the global economic recovery, the International Monetary Fund says. The Washington-based watchdog said world growth was expected to be the strongest
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The soaring cost of oil hits global economic growth, although recovery is not a distant prospect, according to the OECD.
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The absolute price of oil has reached a new high. The growth     of the economies in China, India and the rest of Asia are increasing the demand     for oil. There are production problems in Venezuela (strikes and sabotage), Norway (strikes), Nigeria (civil war), Iraq (sabotage) and Russia (internal politics). Hurricane Ivan and other hurricanes this year disrupted     production in the Gulf of Mexico and transportation of oil in the Atlantic.     In the next decade Eastern Europe will also require more oil to feed its growing economies. The price of crude oil has led to     prices of above $55 a barrel and lifted heating oil to a record and     natural gas to a 20-month high. Though prices may eventually fall a bit, they are likely to remain higher than we were once     accustomed.    However, all is not gloom and doom.
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NEW YORK : World oil prices raced to new record highs and then skidded as the Norwegian government announced it would intervene to end industrial strife in the huge oil sector.
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World oil prices slipped Monday, tracking a slump in global stock markets as investors worry about slowing economic growth and a risk of recession in the United States.
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CANNES, France  - Concerns about soaring oil  prices and terrorism have injected fresh caution into global  markets over the last six months, executives and investors said  at a technology conference in Cannes.
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Oil prices above $50 a barrel - and rising - are now starting to adversely affect the economy and consumers in ways that had not been happening only a few months ago.
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TOKYO: Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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World oil prices surged nearly 4  percent on Friday on worries the U.S. hurricane season would  continue to hamper energy production and imports in the Gulf of  Mexico, delaying vital stock-building ahead of winter.
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NEW YORK  - Global crude prices boiled over on fear of tight US winter fuel supplies and because of a tape apparently by Osama bin Laden calling for attacks on Gulf oil supplies.
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The world will be living with volatile oil prices for years to come, but this yearâs price spike should not be serious enough to push the US into a recession, US Federal Reserve Chairman Alan Greenspan said yesterday.
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URGENT action is needed to ensure sky-high oil prices do not derail the global economic recovery, the International Monetary Fund said yesterday.
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Soaring oil prices have dealt a blow to global economic growth in recent months, but fatter corporate profits and investment should facilitate a rebound in 2005, the OECD said Tuesday.
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OTTAWA - World economic growth will be at risk next year if oil prices remain near all-time highs well into next year, the Conference Board of Canada said Friday.
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WASHINGTON -- High oil prices, a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy costs pose to what, until recently, many expected to be a banner year for the US economy.
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Prospects for the global economy next year are growing dimmer as high oil prices hurt consumption and the unchecked rise in the United States trade deficit depresses the dollar
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Record oil prices are having a limited impact on the global economy but the risk of economic disruption remains high, the head of the International Monetary Fund said Thursday.