Moody’s sees little boost for global economy from lower oil

The investors service is not revising their global growth outlook, despite theories that the oil price will boost the economy

Today's lower oil prices are of course a pain in the derrick for oil-producing nations and oil companies alike, though they might’ve been expected to provide a much welcome boost for the world’s struggling economy. Not so, according to Moody’s Investors Service. In its latest Global Macro Outlook 2015-16, entitled Lower oil price fails to spur global growth and published on 11 February, Moody’s said that while reduced oil prices – whose fall to around $50-60 a barrel from a peak of $115/b in June 2014 is expected to continue throughout 2015 – should in principle provide a significant boost to global growth, among some net oil importers several factors will offset any windfall income gains fr