Rolling coverage of the latest economic and financial news Elsewhere this morning, the Organisation for Economic Co-operation and Development has warned that if the Middle East conflict drags on into next year it will hit global growth hard, driving some economies into recession and causing energy shortages. In its latest Economic Outlook, the Paris-based club of industrialised countries lays out a “prolonged disruption” scenario, in which there is no agreement between the US and Iran until 2027