World News

Oil price collapse threatens global economy: French finance minister

PARIS (Reuters) – The collapse of crude oil prices threatens the global economy as it is already struggling to cope with the fallout from the coronavirus outbreak, French Finance Minister Bruno Le Maire said on Tuesday.

“The oil price collapse is a danger for the global economy,” Le Maire told the French Senate as he a presented a budget update to take account of the impact of the outbreak.

He said African countries highly dependent on oil revenues were particularly exposed to the drop in prices.

(Reporting by Leigh Thomas; Editing by Alex Richardson)