The fall in oil prices has been kind to many and it's forecast to support steady growth, but the threat of further shocks is still very real, says Claire Bennison
Crude oil prices have fallen over 40 per cent since their highs in June 2014. The decline is one of the biggest since the mid-1980s, beaten only by the post-Lehman correction in 2008.
However unlike 2008, the global economy is not in recession, but is in fact currently growing at a modest pace.
The International Monetary Fund (IMF) expects growth to be in the region of 3.5 per cent this year,
with the assumption being that the fall in the price of oil has been caused by changes in the supply and demand dynamic, rather than a collapse in economic activity.
A strong dollar