Even if Oil Prices Peak Soon, the Global Economy Will Slow This Year
#masthead-section-label, #masthead-bar-one { display: none }War in the Middle EastU.S.-Iran Negotiation IssuesIsrael-Lebanon AgreementStrait of HormuzAdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. Those projections assume energy prices have or will have peaked and then will gradually fall as energy production in the Persian Gulf recovers and air and shipping routes then become fully operational. The war has led to the closing of the Strait of Hormuz, the critical waterway off Iran’s southern coast.Inflation in the Group of 20 economies, which includes the United States, China and the European Union, would average 4 percent this year and 3.1 percent next year.
- ▪#masthead-section-label, #masthead-bar-one { display: none }War in the Middle EastU.S.-Iran Negotiation IssuesIsrael-Lebanon AgreementStrait of HormuzAdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checki
- ▪Those projections assume energy prices have or will have peaked and then will gradually fall as energy production in the Persian Gulf recovers and air and shipping routes then become fully operational.
- ▪The war has led to the closing of the Strait of Hormuz, the critical waterway off Iran’s southern coast.Inflation in the Group of 20 economies, which includes the United States, China and the European Union, would average 4 percent this yea
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#masthead-section-label, #masthead-bar-one { display: none }War in the Middle EastU.S.-Iran Negotiation IssuesIsrael-Lebanon AgreementStrait of HormuzAdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.Supported bySKIP ADVERTISEMENTEven if Oil Prices Peak Soon, the Global Economy Will Slow This YearThe Organization for Economic Cooperation and Development, in a report, said the Middle East war’s consequences “are likely to be felt for some time.”Listen · 4:21 min Share full article58An oil refinery in England. Higher energy prices because of the war in Iran will slow global economic growth and raise inflation through 2027, the O.E.C.D.
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