$125 Oil Could Tip Global Economy Into Recession
Elevated oil prices for a sustained period of time would tip the global economy into a recession, Moody’s Analytics’ head of international economics, Gaurav Ganguly, told CNBC, pegging the game-changing price at $125 per barrel of Brent crude. If prices go that high and stay that high long enough, the world will enter a recession, but it will be a shallow one, Ganguly noted, adding that for now, Moody’s was reasonably optimistic, assuming the war in the Middle East would come to a swift end soon. Most analysts appear to share…