VOL. XLV

No 47

25-November-2002

Oil Prices And Economic Recovery

By John Gault

John Gault is an economist and consultant based in Geneva, Switzerland. He contributed this analysis to the Middle East Economic Survey.

Nearly every news article speculating about the pace of world economic recovery includes the caveat unless oil prices suddenly rise. Such concern increasingly is related to a possible oil price jump if and when the US carries out its threat to invade Iraq. The International Monetary...