Oil shock between growing consumption and lax on crude oil production for the period (2014-1990) | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 48, October 2017, Pages 50-86 | ||
| Author | ||
| Dr . Isam Hadi Mohammed Salhi | ||
| Abstract | ||
| At the recent time, the oil in life of contemporary societies has a strategic role, especially after plurality and diversity of economic activities, with the continued worsening of the energy problem in the world, and because the prices ,production ,and consumption of crude oil represent the basic variables that play an important role in the balance of oil market , so the interaction of these three basic variables, as well as imbalance between them leads to the so called (Oil Shocks ), which are as clear results in the side of the prices ,and as reasons in the both sides of production and consumption .Hence the phenomenon oil shocks being important subject of this studies to answer the following question; Is that shock is the result of changes in price, and it's cause lies in the change in the production or consumption or other factors . The study reached to basic facts which are represented that the oil shock did not occurred as a real phenomenon during the study period (1990-2014 ) but it's the signs of shocks were not reach to the level of actual shocks, and the growth of oil consumption or deterioration of production does not constitute foundation in bringing shocks . | ||
|
Statistics Article View: 15 PDF Download: 3 |
||