IEA Says OPEC+ Oil Supply Cuts Could Tip The World Into A Recession

 

Reuters: OPEC+ oil supply cuts could tip world into recession, IEA says 

LONDON (Reuters) - A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said on Thursday. 

"The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand," the Paris-based agency, which includes the United States and other top consumer countries, said. 

"With unrelenting inflationary pressures and interest rate hikes taking their toll, higher oil prices may prove the tipping point for a global economy already on the brink of recession," it added in its monthly oil report.  

Read more ....  

WNU Editor: In my opinion much of the world is already in a recession that is on the brink of another financial crisis. The question that should be asked is how bad is this all going to get. 

IEA Says OPEC+ Oil Supply Cuts Could Tip The World Into A Recession  

OPEC could tip the world economy into recession, warns IEA -- CNN 

OPEC+ Cuts Risk Oil-Price Spike and World Recession, IEA Warns -- Bloomberg  

Opec+ oil output cut risks tipping world into recession, warns IEA -- Financial Times  

IEA Warns OPEC+ Supply Cut May Push Global Economy to Brink of Recession -- Investing.com