Grim IMF Forecast And Negative Chinese Data Weighs On Oil Prices ...Middle East

The latest climb in oil prices was briefly interrupted early on Tuesday morning as bearish sentiment continues to build. A forecast by the International Monetary Fund that a third of the world’s economies are about to slide into a recession this year was particularly worrying. At the same time, Chinese manufacturing data suggests a wave of Covid infections is hurting oil demand in the country. Speaking on “Face the Nation” at CBS, IMF’s managing director Kristalina Georgieva said that the outlook for the global economy is…

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