According to a medium-term forecast for developments in the area of the international economy, business revival is cumulating momentum after the recession it experienced in early 1990s. It had a relevant effect on the world trade. In 1994 the average international trade turnover showed a 9.5 percent growth being a record figure in the last 20 years and by 3 times exceeding the increase in the international production. In 1995 the World Trade Organization estimated 8 percent increase in trade turnover as compared with a 3 percent growth in the world production. World Bank experts think that in the next 10 years an average increase in foreign trade will make 6 percent annually. An economic run-up in most industrialized countries was followed by a growing demand for many products and a consecutive price hike on international markets.
Oil markets showed a balance of demand and supply in 1995. Average prices of Dubai oil were at $ 123 per metric ton, by 14.9 percent exceeding 1994 averages. Owning to small increase in the world oil consumption and practically unchanged supply situation no perceptible change of prices is expected.