BlackRock CEO: $150 Oil Price Could Trigger Global Economic Recession

Odaily News: Larry Fink, CEO of the U.S. financial giant BlackRock, stated that if oil prices reach $150 per barrel, it could trigger a global economic recession. Fink believes it is still too early to determine the ultimate scale and outcome of the conflict, but he thinks the final result will be one of two extreme scenarios. One possibility is that if the conflict is resolved and Iran becomes an internationally acceptable nation again, oil prices could fall back below pre-war levels. However, if that is not the case, then "oil prices could remain above $100 per barrel for many years, approaching $150 per barrel, which would have profound economic implications," potentially resulting in "a severe and significant recession." (Jin10)