Middle East Economic Survey

VOL. XLVIII

No 28

11-July-2005

High Price Impact On Oil Demand Takes Time, Says Drollas

Higher oil prices do dampen oil demand growth and adversely impact economic growth, but it takes time, according to Leo Drollas, Deputy Director and Chief Economist at Londons Centre for Global Energy Studies (CGES). In the paper How Do Consumers React To High Oil Prices?, presented to the 9th CGES Symposium in Bagshot, Surrey, on 28 June, he said: The trend rate of world economic...