Global recession to hurt local exports, securities market

A plunge in oil prices has signaled possibility of global recession in 2019, sending shock waves throughout the global economy including Kenya.

Bloomberg has reported that despite an agreement early last month between Opec and Russia to reduce oil output by 1.2 million barrels per day starting this month, the price of West Texas Intermediate crude has fallen more than 40 per cent from its high for the year in early October.