24.10.2008 - What an Opec oil cut would mean
From Sky.com: If you'd have asked anyone two years ago what would happen if oil breaches $140 barrel, they'd have told you, without hesitation, that there would be a worldwide recession. Well back in the summer oil did hit $147 and, would you Adam and Eve it, the world's big economies now all look headed for recession.The high price of oil was not wholly responsible for this downturn - the near-collapse of the banking system did most of the hard work there - but oil prices did help inflation play its part. .... Full Article: Source
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