Recession Risk Poses Major Threat For North American Oil

The U.S.-China trade war and geopolitical flare-ups could threaten the growth of North America’s upstream oil and gas as oil market volatility and the specter of global recession rise, S&P Global Ratings said in a new report this week. S&P Global Ratings’ report “North America: Rising Recession Risk Adds to Trade, Rate Uncertainty” found that American consumers have so far propped up the world’s biggest economy, but the trade disputes, heightened tension in the Middle East, and slowing global economic growth…