Middle East Economic Survey

VOL. XLVIII

No 15

11-April-2005

Greenspan And IMFs Rato See High Oil Prices Curbing Demand

US Federal Reserve Chairman Alan Greenspan and IMF Managing Director Rodrigo Rato both warned last week that recent record high crude oil prices had begun to impact demand, while a US retail survey found that drivers were reducing car use in response to soaring gasoline costs. Mr Greenspan delivered his message via satellite to a National Petrochemical and Refiners Association...