IMF warns of 'permanent oil shock'

The world faces "a permanent oil shock" and will have to adjust to sustained high prices in the next two decades, the International Monetary Fund said Thursday in its April 2005 World Economic Outlook.

Click here to read the Transcript of a Press Teleconference Call on the World Economic Outlook on the IMF's website

Click here to read the World Economic Outlook April 2005 on the IMF's website

Predicting surging demand from emerging countries and limited new supplies from outside the Organisation

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