The fall in the oil price is set to give a $1,000bn stimulus to oil-importing countries this year, the head of the International Energy Agency has said, as he urged oil producers to think about their “mutual interest” with consumers.
Nobuo Tanaka, executive director of the IEA, the rich countries’ energy group, told the Financial Times that the boost to oil-consuming countries created by cheaper oil ranked alongside the largest of government stimulus packages.
