The Impact of Oil Prices Fluctuations on the Global Economy
Talal Subhi Mousa
talal.mousa@cihanuniversity.edu.iq
Abstract- Oil consumers around the world may benefit for a short period of low crude oil prices, but global consumption will eventually outpace global production, which would raise oil prices sharply.
A sharp drop in the crude oil market has already led to a significant increase in US demand for oil. The current decline in oil prices may lead to the emergence of a future oil crisis within the next two to three years.
However, the global economy cannot adapt itself to low oil prices for a long time, because the main components that make up the global economy, such as global investments, the oil industry, and the economies of the oil producing countries, will fail.
Keywords- The Impact of Oil Price Fluctuations
Date: 20/04/2020
Place: Online