Crude realities.High oil prices continue to be good news for Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , especially for countries like Venezuela, where oil exports account for more than a quarter of gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ). The region is a net exporter of off, the price of which has soared during the past few years. Even for countries that import crude, the news is not all that bad. Chile and Uruguay import most of their oil, and with the price approaching US$70 a barrel, the strain on their economies is evident. Yet copper prices have risen too, which is good for Chile, and so have the prices of Uruguay's agricultural exports. Chilean copper exports are more than three times its oil imports, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report by UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System War burg. In Brazil, oil imports amount to less than 1% of GDP, which makes higher prices insignificant in terms of the country's balance of payments. Brazil keeps domestic fuel prices on par with global crude prices, meaning that the country has been raising prices at the pump although the effects should be minimal, according to UBS Warburg War·burg , Otto Heinrich 1883-1970. German biochemist. He won a 1931 Nobel Prize for research on the respiration of cells. . [GRAPHIC OMITTED] |
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