IMF warns about soaring oil price.
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The soaring price of crude oil has become a risk for the world economy and will have a visible impact over growth next year, said International Monetary Fund Managing Director Rodrigo de Rato.
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Oil prices surge to new highs in Asia and London amid concerns over winter fuel shortages.
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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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Oil prices push above $70 a barrel amid fears over US-Iran tensions and low US fuel stockpiles.
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The global economy should register its strongest growth in 30 years in 2004 despite soaring oil prices, which are expected to restrain the US expansion a bit, the International Monetary Fund said Wednesday.
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The IMF predicts strong oil-fuelled growth for Angola, but remains concerned over financial transparency.
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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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As oil prices keep setting new record highs, there are growing concerns that Asia's energy-hungry economies can no longer continue absorbing the impact with crude creeping toward 60 dollars a barrel.
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Fifteen months ago, key members of the Organization of the Petroleum Exporting Countries said that the steep price of oil, about $70 a barrel, was a concern because it might endanger global economic growth -- and stifle global demand for oil.
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GENEVA: International Monetary Fund (IMF) managing director Rodrigo Rato on Friday called on oil-producing nations to boost investment in production facilities in response to ever rising oil prices.
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Oil prices approach record highs as the weak dollar and more worries about supply inflate prices.
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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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Tight oil supplies could leave the global economy worryingly vulnerable for years to come, a senior International Monetary Fund official said on Thursday.
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In its global economy outlook the International Monetary Fund predicted worldwide output to lift 5% despite of worries about high oil prices.
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Oil prices jump to $94 on fresh hopes that the global economy could remain robust after a joint central bank plan.
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Soaring oil prices may again hijack  Friday's gathering of finance chiefs from the world's top  economic powers, though a U.S. drive to pressure  China over  currency policy was gathering steam on Thursday.
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Tight oil supplies could leave the  global economy worryingly vulnerable for years to come, a  senior International Monetary Fund official said on Thursday.