OPEC AND OIL PRICES

GATT Warns Against Complacency on Lover Oil Prices 

Although "there is a strong presumption" that the net impact of lower prices on the world economy will be positive, the Geneva-based General Agreement on Tariffs and Trade (GATT) has warned that "the lower price of petroleum by itself will not put the world economy back on the prosperous growth path of 1950-73," and that "a change in a key relative price to the benefit of petroleum...