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2026-06-04 09:01:31
[OECD Warns: Energy Disruptions from Iran War Will Lead to Global Recession and Rising Inflation] (1) The Organization for Economic Cooperation and Development (OECD) reports that a prolonged energy disruption caused by the Iran war will severely impact the global economy, potentially plunging countries into recession and causing rising unemployment. If the disruption continues, global economic growth will fall from 2.1% in 2026 to 1.8% in 2027, the lowest since the pandemic and the Great Recession. (2) Global inflation will rise by 0.4 percentage points in 2026 and by 1.3 percentage points in 2027. Developing economies with limited energy reserves and import-dependent Asian economies will be hit hardest. If cross-strait shipping resumes, global growth could rebound to 3.1% in 2027. (3) The OECD calls for strengthening supply chains and energy diversification. Although recent ceasefire negotiations have brought U.S. gasoline prices down to $4.26 per gallon, they are still far higher than $3.14 per gallon in the same period last year. Polls show that over 60% of Americans believe Trump has not done enough to protect the public from the economic impact of war, and most say their financial situation has deteriorated.
