economy
On the Verge of Recession
For now, according to Ganguli, the basic scenario still predicts that the conflict in the Middle East could end relatively quickly.
TL;DR
- Global economy may enter a mild recession if Brent crude oil stays at $125/barrel long-term.
- Escalating tensions in the Persian Gulf have caused Brent crude prices to rise above $112/barrel.
- Disruptions to energy trade are possible even if tankers are freed.
- OPEC+'s planned production increase of 188,000 barrels/day is considered a small rise compared to current production losses.