Warning on high global oil prices

World Bank economists yesterday warned global oil prices would not drop significantly in the coming months but said China has been successful in controlling inflation.

"You don't expect oil prices to come down sharply," said Hans Timmer, lead economist and manager of the Global Trends team of the World Bank.

In the Bank's Global Development Finance report released this month, it forecast oil prices could average $108 a barrel this year before dropping to $105.5 and $98.5 a barrel next year and in 2010.