EFTA Document EFTA01459557

CIO View Special Imagining a world with oil at $15 per barrel Arstaw,Eg.tteni ECtruirV ane I7 2.a. US recession: In this scenario, strong U.S. payroll figures from late 2015 and early 2016 turn out to be misleading. By the time the depth of the slump in U.S. manufacturing becomes fully clear, the downturn has already spread to other parts of the U.S. economy. North American oil demand falls, also dragging down emerging-market oil-demand growth. Falling oil prices reinforce the gloom in f