Tags: BNTEAMS | BUSINESS | CMD | COS | DCAA | ECO | EM

IMF Sees Possible ‘Large’ Impact of Mideast Oil Supply Shock

Thursday, 23 Feb 2012 04:31 PM

 

The International Monetary Fund said today that “the impact of an oil supply shock in the Middle East could be large if not compensated by supply increases elsewhere.”

“We have noted in some of our analysis previously, for example, if this were to occur that a halt of Iran’s exports to OECD economies, without being offset from other sources could trigger an initial oil price increase of around 20 to 30 percent, with other producers of emergency stock releases likely, providing some offset over time,” IMF spokesman Gerry Rice told reporters in Washington.

To contact the editor responsible for this story: Kevin Costelloe at kcostelloe@bloomberg.net

© Copyright 2015 Bloomberg News. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mitt Romney: I Won't Run in 2016

Friday, 30 Jan 2015 10:55 AM

Three weeks after unexpectedly saying he was considering another run for president, Mitt Romney announced he has no plan . . .

Kerry Cancels His Trip to Russia As Tensions Rise

Friday, 30 Jan 2015 11:24 AM

Secretary of State John Kerry has canceled a planned trip to Moscow next week to discuss the ongoing crisis in Ukraine w . . .

Obama Vows to 'Happily' Veto Bills That Reverse Amnesty

Friday, 30 Jan 2015 11:24 AM

President Barack Obama declared Thursday night that he would "happily" veto legislation he felt would worsen the nation' . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved