Analysts have again cast doubt on the future of the world economy, warning of an oil price surge that could throttle China and other fast-growing economies and end shipping's halcyon days. Markets Editor Andrew Lansdale reads the entrails GOLDMAN Sachs raised the stakes this week. In its latest forecast, it calculated that the crude oil price could spike at $80 to $105 per barrel. Crude oil is now in the mid-$50s range, but Goldman Sachs suggested that the world is in "the early stages of a super-spike period". Throwing petrol on the fire, the International Energy Agency has conjectured that there will be a widening gap between supply and demand of 1M to 2M barrels a day. Societe Generate has also warned in a report that an oil price of above $50/bbl will throttle fast-growing economies such as China.
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