Oil’s recent slump to the low $70s and the brief dip into the $60s handle could open the door wider for the major economies to avoid recessions. Lower gasoline and energy prices are suppressing inflation, giving central banks more ammunition to cut interest rates faster. This, in turn, would support economies and boost the purchasing power of households. Brent oil’s slump to below $70 per barrel earlier this week may be bad news for the budgets of the OPEC+ producers seeking to manage supply and prices, but it’s generally good…
