The oil consuming nations are facing unrest in their nations due to the shortage. It is impacting their growth rates with higher inflation and unemployment rates forcing the world's major central banks to start raising interest rates and curb rising consumer prices hitting their industrial growth.
Sixty eight per cent of the ABB participants feel the under developed but oil rich nations such as Nigeria, Iraq, need help and attention from the international community to increase the world oil reserves supply.
Associated Chambers of Commerce and Industry of India
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