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4/20/06

INQ7money: World oil prices will stay high and volatile, warns IMF

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World oil prices will stay high and volatile, warns IMF

WORLD OIL prices are likely to remain high and volatile in the near future, and weigh down on equities and exchange rates in oil-importing countries like the Philippines, an International Monetary Fund report has warned. But, over the longer term, consumer countries may learn to cope with oil shocks much better, depending on the government's policies and on the viability of alternative technologies, said the report released Thursday."Many alternative energy sources that were not economically and technologically feasible during the high oil price episode of the 1970s are now viable," it said.

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