Oil Surge Is a Bigger Risk for Europe Than for the US, OECD Says

Europe is at greater risk than the United States from surging oil prices making it harder to escape low growth and high inflation, the OECD’s chief economist Clare Lombardelli said.

The past shock of price jumps has already played out very differently in the two economic regions as Europe is a large energy importer, while US demand hasn’t been hurt much, Lombardelli told reporters in Paris on Tuesday.