As brent crude oil prices further approaching the $80 mark, the market began to guess if true as some analysts predict oil prices to $100 a barrel, the global economy will not make the mistake a few years ago.
As a result of the changes in the U.S., the impact of international oil prices hitting $100 a barrel on the global economy will not be as severe as it was in 2011, according to a bloomberg study.
Overall prices are higher, because each unit of economic output energy needed to fell, and is subject to the influence of shale oil industry, the United States is also dependent on imported crude oil fell, so compared with the past, the impact of oil prices hit a three digits will be smaller.This limits the impact of oil prices on the world's largest economy, and thus other countries.
Bloomberg economists Jamie Murray, Ziad Daoud, Carl Riccadonna and euronair pointed out that "the impact of oil prices hitting $100 a barrel would be less than in 2011" and would actually be "more like $79"."Because the us supply is still close to full power, the rest of the world will be hit by a smaller impact -- global economic output will fall by 0.2 percentage points in 2020."
Economists also estimate that a price of $200 a barrel would be a major obstacle to the global economy.
"The price of oil is going to go up a lot, and global growth is going to go down because of the spike in oil prices," they said."Of course, whatever the situation, if you push the price of oil to such a high level, it could be a serious drag on the economy itself.