Don’t Count on Oil Drop Greasing Global Growth

The declining price of crude oil may no longer grease the wheels of the world economy as much as it once did -- and as much as International Monetary Fund Managing Director Christine Lagarde expects.

Recent history even may be on the side of contrarians like Fatih Yilmaz from London-based hedge fund SLJ Macro Partners LLP. On top of that, advances in energy efficiency and interest rates already at zero are likely to weaken the potential ripple effects of the 37 percent plunge in Brent crude this year.