Conference Board sees world economy faltering if oil prices stay ...
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OTTAWA (CP) - World economic growth will weaken next year if oil prices remain at record-high levels far into next year, the Conference Board of Canada says in its latest outlook report.
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High global oil prices are likely to ease to $56 a barrel in 2007 and fall further to just below $53 in 2008 as supplies increase and demand growth eases, the World Bank said on Wednesday.
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Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.
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Oil prices were little changed Friday amid concerns over a possible slowing of the U.S. economy that could lead to a drop in fuel demand.
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ABU DHABI/VIENNA  - OPEC is concerned by the fall in the dollar and the producer group will take up the issue when it meets next week to chart supply policy.
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Global finance chiefs meet in Washington amid concerns about the world's economic outlook.
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The world will be living with volatile oil prices for years to come, but this year&#39;s price spike should not be serious enough to push the country into a recession, Federal Reserve Chairman Alan Greenspan said on Friday.
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ABU DHABI/VIENNA  - OPEC is worried by a fall in the dollar that is eroding member states' oil revenue and ministers will take up the issue when they meet next week to discuss a further cut in output.
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The Organization of Petroleum Exporting Countries wants oil prices to fall faster to an ideal price of around US$30 a barrel, and will discuss whether to increase production at a meeting next month, the group&#39;s president said Thursday.
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SYDNEY Rising oil prices may slow Australia&#39;s economic growth rate in the short term by damping global demand for exports, and by cooling consumer spending, the central bank said Thursday.
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The world economy remains vulnerable to downside risks stemming from tighter credit, a deterioration of the US housing market, higher oil prices and rising inflation, according to G7 finance ministers gathering in Tokyo on Saturday.
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World oil prices fell on Monday in line with falling stock markets on fears that wider economic weakness could have a negative impact on demand for crude later this year, analysts said.
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High oil prices pose a risk to the global economy, but the economic outlook for 2005 is still favorable, the Group of Seven nations said in a statement following their meeting on Friday.
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The Conference Board reported Thursday that the Leading Economic Index fell for a third consecutive month in August, suggesting slower economic growth ahead amid rising oil prices.
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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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The head of the Organization of the Petroleum Exporting Countries forecast on Monday that global crude prices would soon fall, partly because of expected supply increases from Iraq.
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BEIJING: Record oil prices have had only &quot;limited&quot; impact on the Chinese economy but the country needs to be keep a close watch on the issue, a senior official said.