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Oil prices edge up as Brent pushes further above $50. Crude prices edged up in Asia on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country’s oil infrastructure. Prices see-sawed last week, ….
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According to economic survey of Pakistan (2006), in line with the rising growth rate of GDP, demand for energy has also grown rapidly. The magnitude by which economies are hurt as a result of price shock depends on the share of cost of oil in national income, the degree of dependence on imported oil and the ability of end-users to reduce their consumption and switch away from oil.
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