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...
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