{"id":11791,"date":"2026-06-03T14:32:18","date_gmt":"2026-06-03T14:32:18","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=11791"},"modified":"2026-06-03T14:32:18","modified_gmt":"2026-06-03T14:32:18","slug":"report-disruption-of-mideast-energy-supplies-into-next-year-would-slam-global-economy","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=11791","title":{"rendered":"Report: Disruption of Mideast energy supplies into next year would slam global economy"},"content":{"rendered":"

By DAVID McHUGH, AP Business Reporter<\/strong><\/p>\n

FRANKFURT, Germany (AP) \u2014 Prolonged disruption of energy supplies from the Middle East due to the Iran war would deal a severe blow to the global economy, sending some countries into recession and spreading inflation and higher unemployment, the Organization for Economic Cooperation and Development said in a report Wednesday.<\/p>

Read more Scott Pelley fired from \u201860 Minutes,\u2019 deepening turmoil at CBS News<\/a><\/p>\n

Hardest hit would be Asian economies that depend on crude oil, fuel and natural gas from the Persian Gulf, supplies that have been largely choked off by the closure of the Strait of Hormuz due to the risk of Iranian attack. And poorer countries where people spend more of their incomes on fuel and food would also be severely affected, the OECD said.<\/p>\n

But the consequences of sharply higher energy prices and inflation would be felt around the world. Global growth would slump to levels not seen except for major setbacks like the COVID-19 pandemic and the global financial crisis and recession of the late 2000s. Under the OECD\u2019s prolonged disruption scenario, global growth slows from 3.4% last year to 2.1% this year and 1.8% in 2027, potentially pushing some economies into or close to recession.<\/p>\n

Under a different OECD scenario for a time-limited disruption, in which energy production and shipments from the Gulf start to return to pre-war levels in the middle of this year, growth would slow to 2.8% this year and rebound to 3.1% next year.<\/p>\n