ANALYSIS-Recession risk unless oil prices fall further

Reuters

Fri Aug 12, 2011 1:26pm GMT

If history is any guide, another oil-induced recession may be just around the corner, at least for the United States and some of the other developed economies.

Every time that the cost of oil relative to global economic output has hit current levels -- and that's even after sharp falls in spot prices this month -- it has heralded a slump.

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