Business Standard

Oil at $100 to do more harm than good to global growth; India among losers

Paying more for oil will pressure current accounts and make economies more vulnerable to rising US interest rates

crude oil
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Enda Curran & Michelle Jamrisko | Bloomberg
Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy. 
 
Exporters of the fuel would enjoy bumper returns, giving a fillip to companies and government coffers. By contrast, consuming nations would bear the cost at the pump, potentially fanning inflation and hurting demand.

The good news is that Bloomberg Economics found that oil at $100 would mean less for global growth in 2018 than it did after the 2011 spike. That's partly because economies are less reliant on energy and because the

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First Published: Sep 30 2018 | 1:26 PM IST

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