Over a barrel no more

Only a couple of years ago if you had predicted that oil would hit $60 per barrel most economists would have forecast a global recession and a major surge in inflation. Yet, as oil prices surged to almost $70 last autumn, the world economy continued to expand at a fair clip. Inflation expectations, at the same time, seem well contained.

Most attempts to explain what has so far been a benign outcome have pointed to increased demand from oil-consuming countries, like China, or to the increasing

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account