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

Gold Financial reports that on March 25, BlackRock CEO Fink stated that if oil prices reach $150 per barrel, it will trigger a global recession. Fink believes that it is too early to determine the final scale and outcome of the conflict, but he thinks the ultimate result will be one of two extremes. One possibility is that if the conflict is resolved and Iran becomes an internationally acceptable country again, oil prices could fall back below pre-war levels. However, if not, then “oil prices could remain above $100 per barrel for many years, approaching $150 per barrel, which would have profound economic impacts,” potentially resulting in “a severe and serious recession.” (Jin10)