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    Economic Implications Of Oil Price Changing

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    Alanzi_morgan_0755M_10709.pdf (841.7Kb)
    Permanent Link
    http://hdl.handle.net/11603/9923
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    • MSU Student Collection
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    Author/Creator
    Alanzi, Mohammed Asri
    Date
    2017
    Type of Work
    Text
    theses
    Department
    Economics
    Program
    M.A.
    Rights
    This item is made available by Morgan State University for personal, educational, and research purposes in accordance with Title 17 of the U.S. Copyright Law. Other uses may require permission from the copyright owner.
    Subjects
    Economic Theory
    Economics
    Oil Price
    Abstract
    Oil prices have been going down over the recent years. Despite this situation, the supply of oil continues to rise. The interplay of supply and demand is the primary contributor for the plunge in oil prices. The United States has moved to increase its oil production, decreasing the imported oil which led to the fall in price. The Organization of Petroleum Exporting Countries (OPEC) is one cartel in the oil industry that plays a significant role in controlling the supply and prices of crude oil around the world. Despite these vital players, this study is critical in unveiling the causes of the fall in oil prices around the globe. This research identifies various players in the sector and the data was collected from 55 years with the starting year being 1960 and the ending year being 2014. The world statistics for oil was obtained from the OPEC website. The results and discussions in the study are drawn from the from OPEC website, the department of energy, and the World Bank.


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    Growing the Future, Leading the World!


    If you wish to submit a copyright complaint or withdrawal request, please email mdsoar-help@umd.edu.