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High oil affecting growth
- Saudi Arabia: Wednesday, October 12 - 2005 at 13:14
High oil prices are probably affecting world economic growth, but consumer countries should do more to encourage investment in the oil industry, according to Saudi's central bank governor Hamad Al-Sayari quoted by Reuters. He says the main concern is the impact prices are having on developing countries, and that a shortage of refining capacity, not crude production, is driving prices.
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James McInerney, News EditorWednesday, October 12 - 2005 at 13:14 UAE local time (GMT+4)
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This article was updated on Sun Sep 17 2006.
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