Volatility in the world energy marketplace exposes the global economy to substantial risks moving forward, a global committee report said.

A report from the Global Commission on the Economy and Climate, led by former Mexican President Felipe Calderon, finds uneven growth and price uncertainty is problematic for a global economy still linked strongly to crude oil.

"Energy price volatility is high and hurts economic growth," the report said.

Oil prices are down about 40 percent from their June 2014 highs. That creates risks for economies like Russia and producing nations in the Middle East that rely heavily on oil revenue, but presents a source of de facto stimulus for consumers and consuming nations.

The commission says the low price of oil translates to about $1.3 trillion in savings for consumers. For the global economy, cheaper oil means greater net growth in gross domestic product. While that's a short-term benefit, the report warns economic planners "cannot bank on future low fossil fuel prices."

The report mirrors cautions expressed this year by the International Monetary Fund and the World Bank, which in January said the low price for crude oil and the subsequent economic impacts should serve as a reminder of the risks of concentrating economic activity in one sector.

Calderon's commission said placing bets in a steadily depressed crude oil market was foolhardy. With oil representing about 5 percent of global gross domestic product, swings either way can have dramatic impacts.

"There are few short-term options to reduce consumption, and it has widespread knock-on effects on other key inputs to economic activity," it said. "Energy price volatility is therefore a major concern."