IMF says oil price rise shows recession is easing with demand recovering

IMF says oil price rise shows recession is easing with demand recovering
# 26 May 2009 09:33 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. International Monetary Fund First Deputy Managing Director John Lipsky said rising oil prices indicate that the recession may be easing and that demand is poised to recover gradually.

Oil prices climbed to about US$60 per barrel recently, almost double their level in December. The increase reflects "a general improvement in sentiment on signs that the sharpest period of decline in the global economy is over," Lipsky said in Rome, addressing a gathering of G8 energy
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