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Wed, 25 Mar 2026

Wed, 25 Mar 2026 Oil at $150 will trigger global recession, says boss of financial giant BlackRock

Larry Fink says if oil prices stay high for a sustained period it will have "profound implications" for the world economy.

* This would have "profound implications" for the world economy, particularly in countries reliant on imports.
* Fink advises countries to be pragmatic about their energy mix and use all available sources, including alternative energies like solar and wind power.
* He rejects suggestions of an AI bubble, but warns that too many people are pursuing university degrees rather than technical training due to the new technology.
* BlackRock's size and spread gives Fink a unique insight into global economic trends, and he believes financial institutions today are more secure than they were in 2007-08.
* Fink emphasizes the importance of investing in AI and renewable energy to remain competitive with China, which is heavily investing in these areas.
* He notes that the cost of energy is currently hindering the expansion of AI in the US and Europe, and predicts that solar power will become increasingly important in powering industries like AI.