At a press briefing for WEF's Global Risks 2010 report, representatives, which include major leaders in the risk management community, revealed how a spike in the oil price has increased its likelihood of becoming "severe", as it is tied in to the rate of global economic growth.
"The spike in oil prices will see no relief in 2010," said Daniel Hofmann, group chief economist of Zurich Financial Services.
The report also warned that energy companies, which faced significant challenges as a result
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