VOL. XLVII

No 17

26-April-2004

OIL PRICES

Goldman Sachs Sees High Oil Prices Slowing Global Growth

Oil prices rose to 13-year highs in March despite record production and an underlying oil market surplus since late 2003, according to Goldman Sachs. In its Global Economics Weekly of 24 March entitled Oil Prices A Reason for Slower Global Growth Momentum?, the bank said that the historical relationship between prices and inventories would suggest an appropriate price of around $31-32/B, but that...