Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

OIL PRICES

G-7 Meeting Focus On Oil Information And Transparency; Offers No Remedies For High Prices

The G-7 communiqué issued by the finance ministers and central bank governors, following their meeting in Washington on 1 October, dealt with long-term issues but offered no panaceas to the current rapid rise in oil prices. The joint statement recognized that oil prices remain high and are a risk, and promised to deal with medium-term...