Can the global economy weather oil trading at $100-a-barrel next year? Because a triple-digit price tag wouldn’t just mean elevated energy prices — it would also turbocharge the dollar. The result could be a slowdown in oil demand growth in 2024.Japan is perhaps the best example of the oil-and-currency cocktail. Still, on the margins, they matter.Oil traders currently say there’s little sign that global demand is taking a big hit. “High prices lead to demand destruction,” he commented.Another unacknowledged problem for emerging markets like India and China: The benefit of their non-aligned oil policy is ending.

Source: Punch October 04, 2023 15:40 UTC