What oil at $50 a barrel means for the world economy, India

Much depends on how world oil demand shapes up as it gets battered by a stronger dollar and global trade spats

Just a couple of months ago, major oil trading houses were predicting the return of $100 crude. Now, with oil prices at half that level, here’s a look at what the slump means for the world economy.

Energy importers like India and South Africa will benefit; oil producers such as Russia and Saudi Arabia will hurt. Central banks under pressure to raise interest rates will get a reprieve; those looking to revive prices, such as the Bank of Japan, face another headwind.

Ultimately, much depends on how world oil demand shapes up as it gets battered by a stronger dollar