IMF chief says she cannot rule out recession Beijing ramps up COVID quarantine German minister expects EU embargo on Russian oil ‘in days’ Coming up: API supply report, 2030 GMT LONDON, May 24 (Reuters) – Oil fell by almost $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed tight global supply and expectations of a pick-up in fuel demand with the U.S. summer driving season. Investment banks including UBS and Goldman Sachs have cut their 2022 China growth outlooks. The head of the International Monetary Fund, meanwhile, said she does not expect a recession for major economies but cannot rule it out. “Downgraded China GDP growth forecasts and increasing worries about wider […]