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Commodities Briefing - Categorized | Oil, Price Watch more

China economic slump could slash oil price ‘by half’

Posted on 30 April 2014

A ‘hard landing’ of the Chinese economy could see the oil price plummet to as low as $50, information firm IHS has warned. Growth in the world’s second-largest economic is stumbling, and if the rate of expansion continues to fall the repercussions would be felt globally, IHS said. Such a scenario could see the gross domestic product of Middle East countries drop by up to 1 percent, IHS said.
“A China hard landing would mean the Middle East would experience weaker exports, lower tourism and business activity, and probably a resurgence of risk aversion by global companies due to this new deterioration of the global economic situation, just at the moment when they thought the situation was finally improving,” said IHS Chief Economist Nariman Behravesh………………………………………..Full Article: Source


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