Cukurova 6th International Scientific Researches Conference
Covid- 19 And Oil Prices Of The World: A Brief Discussion
Yazarlar:
Towseef Mohi Ud Din
Tariq Ahmad Bhat
Reena Patidar
Disiplin:
Macroeconomics,Econometrics
Konu:
Macroeconomics,Econometrics
The text discusses the impact of COVID-19 on world oil prices, highlighting the historic drop in U.S. oil prices to -$40 per barrel due to decreased demand caused by the pandemic. The relationship between price, demand, and supply in economics is emphasized, with a focus on how the lockdowns have affected the global consumption of crude oil. The text also mentions the rise in global demand for crude oil since the 1970s and the role of speculation in financial markets.