Strategist: Targeting Refineries Could Trigger Worst Economic Scenario, Stagflation Risks Are Building

Odaily News Market strategist Michael McCarthy pointed out that the threat of targeting refineries is highly concerning as it points to the worst economic scenario. If 15% to 20% of the global oil supply is cut off, it would not only drag down growth in all economies worldwide but also trigger an inflationary shock. The combination of inflation and slowing growth is stagflation, which would be an economic disaster. (Jin10)