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Akbar Novruz

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A surge in global oil prices to $150 per barrel could push the world economy into recession, according to Larry Fink, CEO of BlackRock, AzerNEWS reports.

In an interview with the BBC, Fink said the trajectory of the global economy now largely hinges on the role of Iran in the ongoing Middle East conflict.

Fink outlined two possible paths:

— A stabilization scenario where tensions ease and oil prices fall back to pre-crisis levels
— A prolonged high-price environment, with oil remaining between $100 and $150 per barrel for years

According to him, sustained high energy prices would act as a “regressive tax”, disproportionately impacting lower-income populations.

“The increase in the price of energy carriers is a very regressive tax. It hits the poor more than the rich,” Fink said.

The BlackRock chief warned that elevated oil prices would place additional strain on global growth, increasing the likelihood of an economic slowdown or outright recession.

At the same time, he stressed that such a scenario could accelerate the global shift toward alternative energy sources. Governments, he noted, would be forced to use resources more efficiently while aggressively expanding renewable energy capacity.

Fink added that persistently high oil prices could fast-track investments in solar and wind energy, potentially advancing the energy transition timeline within the next 3–4 years.