Current oil prices will reduce growth

JEDDAH, Saudi Arabia (Reuters) - Current oil prices, which are holding resolutely above $130 a barrel, will cut into world economic growth this year if sustained, IMF First Deputy Managing Director John Lipsky said on Sunday.

"If sustained, it will reduce global growth, although at the same time global growth has been somewhat more resilient in the early part of the year than we anticipated," Lipsky told Reuters on the sidelines of an emergency global oil summit.

(Reporting by Simon Webb; Editing by Anshuman Daga)