If you want to examine what might shake up the world economy, look no further than oil:
U.S. oil prices hit new record levels above $44 a barrel on Tuesday as the head of the OPEC producers’ cartel said there was little the group could do to cool the red-hot market for the time being.
U.S. light crude rose 42 cents to $44.24 a barrel, marking the highest level since crude futures were launched on the New York Mercantile Exchange in 1983.
. . .
OPEC President Purnomo Yusgiantoro said on Tuesday the producers’ cartel had no extra oil to immediately supply the world market to bring down prices.
“The oil price is very high, it’s crazy. There is no additional supply,” Purnomo told reporters in Jakarta.
That’s bad enough. Of course if you are looking for a worst case scenario, things could get much worse if there’s a substantial disruption.