Oil Price Spike Could Trigger Global Economic Meltdown: Expert
06:45 10.03.2026 (Updated: 07:52 10.03.2026)
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Oil price spike could trigger global economic meltdown – expert
Oil prices above $100 per barrel “increase pressure on consumer prices through transport, logistics, and business costs,” Russian expert Alexey Primak told Sputnik.
“If these levels persist for several months, central banks will have to maintain tight monetary policy longer than the market expects. This adds to the risk of a global economic slowdown," Primak pointed out.
He explained that systemic consequences for the global economy are only possible if oil prices remain significantly above $115 for a long time, accompanied by disruptions in physical supplies.
"For now, the market perceives the situation as a risk, not as an inevitable crisis," the expert stressed.
The price of Brent crude—the international benchmark—earlier jumped by 29% to more than $119 per barrel for the first time since June 2022.
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Oil prices above $100 per barrel “increase pressure on consumer prices through transport, logistics, and business costs,” Russian expert Alexey Primak told Sputnik.
“If these levels persist for several months, central banks will have to maintain tight monetary policy longer than the market expects. This adds to the risk of a global economic slowdown," Primak pointed out.
He explained that systemic consequences for the global economy are only possible if oil prices remain significantly above $115 for a long time, accompanied by disruptions in physical supplies.
"For now, the market perceives the situation as a risk, not as an inevitable crisis," the expert stressed.
The price of Brent crude—the international benchmark—earlier jumped by 29% to more than $119 per barrel for the first time since June 2022.
Subscribe to @SputnikInt
