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IMF sees possible oil-price shock from Middle East unrest

Posted on 09 October 2013

A potential surge in oil prices caused by unrest in the Middle East and North Africa may cut global growth by as much as 0.5 percentage point next year, the International Monetary Fund said in its World Economic Outlook.
In the worst case, a disruption in the Middle East would push oil to $150 a barrel, the Washington-based lending agency said in its October World Economic Outlook, leading to “adverse effects on confidence, with capital retreating to safe havens and a persistent decline in equity prices.”……………………………………….Full Article: Source


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