News analysis

Oil price war can lead to global recession

It may also fuel Fed rate cuts that leave US dollar vulnerable to more downside in blow to Asia

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There are no winners in a price war that puts the stability of the global financial system at risk.

The oil price shock - a massive 30 per cent plunge in world oil prices within minutes of market opening - is unlikely to spur bug-infected demand for goods and services.

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A version of this article appeared in the print edition of The Straits Times on March 10, 2020, with the headline Oil price war can lead to global recession. Subscribe