Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis CIB, said while 1970s oil shocks sent prices sky high, they only cut global supply by 5-7%. In contrast, the current crisis affects 20% of the world’s supplies, “dwarfing the 1970s shock”, she said.
:max_bytes(150000):strip_icc():focal(471x244:473x246)/CNN-New-Years-Eve-with-Anderson-Cooper-123124-9952e5f00fc1425f87113ba2bfb97b29.jpg "Anderson Cooper Says He Once ‘Hated’ New Year’s Eve While Co-Hosting CNN Broadcast")
