IMF Recession Warning Deals Blow To Oil Prices ...Middle East

Crude oil prices extended their slide after the International Monetary Fund reported an update to its global economic projections for this year, which deepened fears of recession. In the latest edition of its World Economic Outlook, the IMF said that global economic growth will slow from 6 percent in 2021 to 3.2 percent this year, while inflation rises from 4.7 percent to 8.8 percent this year. As a result, “Risks to the outlook remain unusually large and to the downside. Monetary policy could miscalculate the right stance to reduce inflation.…

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