13.6.12

Opec holds first summit after Arab Spring


Oil is expensive again. The price is more than three times the lows it hit in the wake of the financial crisis, driven higher by robust growth強勁增長 in emerging economies新興經濟體 and by the political unrest政治動盪 in the Middle East and North Africa.

It is increasingly日益 an economic problem for oil importers, especially in the developed countries, where recovery is not very convincing使人信服. The oil price is adding to inflationary通貨膨脹 pressures壓力 and it's hitting consumers who have less to spend on other goods and services.

Saudi Arabia, along with Kuwait and the United Arab Emirates are willing to respond by boosting提高 supplies which should bring prices down. But others aren't so keen敏銳, 靈敏, including Iran and Venezuela who don't have a great deal of spare capacity備用容量 and have poor diplomatic relations with the rich world.

Saudi Arabia, however, does have room to increase production and might well choose to do so whatever Opec decides.

Andrew Walker, BBC News
this text comes from bbc learning english
http://www.bbc.co.uk/worldservice/learningenglish/language/wordsinthenews/2011/06/110608_witn_opec_page.shtml

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