Middle East Economic Survey

VOL. XLVII

No 44

1-November-2004

OIL PRICES

Global Trade/Financial Markets Unaffected By High Oil Prices, Say WTO/OECD

Despite the sharp rise in oil prices, the volume of world trade is likely to grow by 8.5% in real terms by the end of 2004, a significant improvement over 2003, according to World Trade Organization (WTO) statistics. The figures are included in the WTOs latest annual International Trade Statistics report, published in late October. While the price...