2004 trade growth to exceed 2003 despite higher oil prices
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The sharp rise in oil prices which recently creeps towards $60 per barrel has put many energy industries and those reliant on energy on the edge for fear of the adverse affects of escalating prices.
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The U.S. trade gap widened nearly 9  percent in October to a record $55.5 billion as sky-high oil  prices helped propel imports into new territory, while  industrial output rose as expected in November.
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PARIS The Organization for Economic Cooperation and Development raised its 2004 growth outlook Tuesday for the world economy, forecasting further expansion in Europe and a robust upturn in Japan that would outpace the United States for the first time in
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The U.S. trade deficit widened much  more than expected in July to a record $68 billion dollars as  record oil prices pushed America's monthly oil import bill to  an all time high, a government report showed on Tuesday.
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The trade deficit widened as expected in May, as higher oil prices helped lift imports to an all-time high, swamping a boost to exports from stronger overseas growth and a weaker dollar, a government report showed on Thursday.
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The U.S. trade deficit widened more than expected in August to its second-highest level on record, fueled by the highest oil import prices in 23 years and record imports from China, the U.S. government said on Thursday.
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The US trade deficit widened to a new high of $55.5 billion in October, boosted by high oil prices and record imports from China as retailers geared up for Christmas.
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The deficit in the broadest measure of trade climbed to a record high of $164.7 billion in the third quarter of this year, reflecting Americans' hardy demand for imported oil and foreign-made goods.
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Oil prices may have just hit record levels, but the International Monetary Fund is even more bullish about global economic growth in 2004 than it was six months ago.
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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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The International Monetary Fund on Wednesday raised its 2004 world growth forecast to 5 percent, the highest level in three decades, but said sharply higher oil prices had sapped the recovery.
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The politically sensitive U.S. trade  deficit widened more than expected in August to its  second-highest level on record, fueled by the highest oil  import prices in 23 years and record imports from China, the  U.S. government said on Thursday.
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Oil prices pushed above $49 a barrel on Monday, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compounded concerns over low fuel stocks ahead of winter.
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Developing Asia and the Pacific will grow at 7.0 percent in 2004 on strong exports and buoyant intraregional trade, the Asian Development Bank says.
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LONDON - World trade in oil will double over the next 25 years, intensifying pressure on supply chokepoints which threaten security of international flows, the International Energy Agency (IEA) said yesterday.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Trade between China and the United States maintained a strong momentum of development in 2004. The later maintained one of China&#39;s top three trade partners with both cooperation as well as disputes.