News Regions Hardcopy Market Data Careers Web- tv Events Subscribe Focus About Upstream Advertise

Stark warning: from Nobuo Tanaka

'Oil prices may tip world into recession'

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.

e-mail this to a friend

e-mail this to a friend

FREE Daily newsletter print
most popular
search
subscriber login
recruitment

Senior Level Exploration Staff

Our client is looking for highly motivated and highly skilled E&P professionals who can assist with increasing its export production capacity from 2.5 million bopd to...

Petro Staff

Contracts Engineer ( Drilling and Construction)

Incumbent will have high involvement with other divisions, vendors and other customers to ensure compliance with standards and regulations. Changes to services, procedures...

Sheffield Offshore

Senior Level Exploration Staff

Our client is looking for highly motivated and highly skilled E&P professionals who can assist with increasing its export production capacity from 2.5 million bopd to...

Petro Staff

Instrumentation & Control Engineer

OMV Exploration & Production

Operations Readiness Coordinator (f/m)

OMV Exploration & Production

HSE Specialists (Drilling)

Sheffield Offshore

Operations Manager

Roc Oil Company

Lead Planning Engineer

Mentor IMC Group

Technical Manager

Sheffield Offshore

Senior Cost Engineer

Mentor IMC Group

Lead Process Engineer

Sheffield Offshore

Production Technologist

Roc Oil Company

Drilling Contracts Engineer

Sheffield Offshore

Schedule Engineer

Orion Group

Drilling Completions Engineer

Sheffield Offshore

click here for all positions
news from other nhst publications