Middle East Economic Survey


No 24


Impact Of High Oil Prices On World Economic Growth: A Mixed Assessment

Oil prices have climbed in recent months to hit 13-year highs of over $42/B for the benchmark WTI crude, and the focus among analysts has now shifted from the causes of the price spike to its potential effects on the world economys gathering recovery. The decision by OPEC last week to raise production quotas and put incremental barrels in the market has put a temporary...