Cheap oil will weigh on global economy, says World Bank

Growth expected to slow this year as oil exporters in developing countries struggle to cope with lower energy prices

Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check.

The benefit of cheaper oil pricesfor Europe, Japan and other oil importing nations, which has sustained their growth through 2015 and 2016, has failed to offset a slowdown in parts of Africa, Asia and South America that depend on selling energy to sustain their incomes.