'Oil prices may tip world into recession'
Wire services
International Energy Agency boss Nobuo Tanaka warned today that there is a
risk record oil prices could tip the world economy into recession.
Asked whether prices of nearly $118 a barrel could drive the world economy
into recession, he said: "Yes, I certainly have some concern."
"High prices definitely dampen demand - it's happening now, definitely it will
have some negative impact on economic growth - that's for sure," he told
Reuters on the sidelines of the International Energy Forum in Rome.
22 April 2008 08:05 GMT
| last updated:
22 April 2008 08:05 GMT
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