The world could see a 1970s like oil shock, prices could spike and lead to stagflation crisis, says Dr Doom economist Nouriel Roubini

Nouriel Roubini, also known as 'Dr Doom economist', has recently claimed that entire world could witness a major oil shock, something that had happened at least five decades back. Roubini has meanwhile warned that a major oil crisis could become an imminent reality if Israel and Iran go for an all-out war.