'Fuel, finance shocks hit world economy'
World Bank Executive Director Neelkanth Mishra stated that rising fuel costs and tighter financial conditions are impacting global demand and capital costs. He noted that while India is better positioned than many developed nations, it remains vulnerable due to its 90% dependence on imported crude oil. The International Energy Agency forecasts a 2.5 million barrels per day drop in world oil demand by 2026.