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IMF Chief: High Oil Prices to Continue

Saturday, March 19, 2005 11:02:57 PM
By ASHOK SHARMA

Rodrigo de Rato, Managing Director of the International Monetary Fund gestures during a press conference in New Delhi, India, Saturday, March 19, 2005. Rato said that the high world oil prices were likely to continue for another two years because of pressures on demand and supply constraints, however, the prices may not stay as high as US$56 a barrel as at present. (AP Photo/Manish Swarup)NEW DELHI (AP) - Oil prices that have hovered around record highs for weeks are likely to continue to be high for another two years because of rising demand and supply constraints, the head of the International Monetary Fund said Saturday.

But IMF Managing Director Rodrigo de Rato said prices may not stay as high as the current level of $56.

De Rato made the comments during a three-day visit to India, where he met top Indian officials in New Delhi and Bombay.


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