The International Energy Agency predicts that global oil demand could fall to its lowest level in six years this year. Exxon Mobil and Shell are both shutting refineries in anticipation of Hurricane Ike. LUKoil’s two major shareholders have increased their stakes. Read The Economist’s take on India’s nuclear deal with the US. India is now seeking further nuclear deals with France and Russia. What effect is the high price of oil having on the world economy?