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Oil-Price Shock Couldn’t Come at Worse Time for World Growth

  • Economic impact depends on how long the price surge endures
  • Latest development could prod central banks toward more cuts
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This Is a Clear Supply-Side Shock to Oil, Says Nomura’s Subbaraman
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The record oil-price surge after a drone strike on a Saudi Arabian oil facility couldn’t come at a worse time for a world economy already in the grip of a deepening downturn.