High oil prices threaten global economy&#39;s health
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Declaring that high oil prices are a threat to the global economy, the world&#39;s industrialized countries urged producers Friday to provide price relief by boosting supplies.
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Global oil prices set a 10-month high, breaking through the $73 a barrel level due to high US petrol demand.
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Washington, Sept. 30.(UNI): The expansion of the global economy could hit a 30-year record in 2004 but will likely slide in 2005 as a result of higher oil prices and other factors, the International Monetary Fund (IMF) sources said.
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Global oil prices raced to fresh highs  on Friday carrying U.S. crude close to $49 a barrel, driven by  escalating violence in Iraq and unabated demand growth from  China and India.
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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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NEW YORK -- Oil prices have moved to fresh record highs of almost $47 a barrel on concerns about potential supply disruptions in Russia and Iraq.
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LONDON, England -- Oil prices have surged to historic levels as a threat of civil war in Nigeria adds to concerns over tight global supplies.
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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 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 International Energy Agency said that higher petroleum prices would hurt economic growth around the world next year.
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The Organization of Petroleum Exporting Countries has warned that the drive for environment-friendly bio-fuel risked pushing oil prices &quot;through the roof,&quot; the Financial Times reported Wednesday.
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Soaring oil prices and terrorism have instilled fresh caution into global markets over the past six months, executives and investors said at a technology conference in Cannes.
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World finance chiefs gathering for a G7 summit were upbeat on the outlook for the global economy, but warned that high oil prices could put an end to a five-year run of growth.
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The world economy will face higher prices than in the past decade as more oil comes from &quot;politically unstable&quot; countries, such as Saudi Arabia and Russia, and production costs rise, the International Energy Agency warned on Tuesday.
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World oil prices are continuing to scale record heights, rising on concerns over disruptions to supply from strike-hit producers Nigeria and Norway.
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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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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.