Chapter 5: Oil Scenario Tests

October 2005
Argentina Business Forecast Report;2005 4th Quarter, p33
Country Report
Country Report
The article presents information about oil-production and oil-prices in Argentina. An increase in the oil price would have a major impact on the world economy. Growth in the world economy would be significantly lower and inflation would be higher, while the main industrial economies would also experience deterioration in their current accounts. So far, however, the high oil price has had little noticeable impact on demand, with the world economy growing by 4.1 percent. It is important to note that the price of oil is currently only at record levels in nominal terms and, in real terms, it is still much lower than the level during the last oil price shock in 1980.


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