Oil prices retreated over 4.5 percent in the last four weeks, but the decrease does not change the perspective of the United Arab Emirates' (UAE) economic growth of 2.6 percent in 2012, an expert with the National Bank of Abu Dhabi (NBAD) said Sunday.
Oil prices fell sharply on Friday to hit 98.5 U.S. dollars per barrel. The fall translated to a one-month loss of 4.5 percent.
Giyas Gokkent, Chief Economist and Head of Research at NBAD, told Xinhua in an interview that several factors are at play for the recent fall in oil prices.
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