Stable oil prices...what does it mean for the future?

Authors

  • Hussein Ali Abd Imam Al-Kadhim (peace be upon him) University College of Islamic Sciences

DOI:

https://doi.org/10.36325/ghjec.v17i1.1663

Keywords:

Oil prices, Oil price stability

Abstract

The spread of the new Corona virus Covid-19 has cast its shadow on the global economy, as economic growth rates declined, the volume of global trade decreased, unemployment rates increased, and global financial markets witnessed severe turmoil and achieved very large losses. This coincided with a recession in the global economy and a trade war between the United States. America and China. The effects of the virus outbreak extended to most countries of the world and global demand shrank. Fears of a widespread outbreak of the virus shook the global economy. Economic growth expectations fell by about half, trade declined, financial markets became turbulent, and most of their main indicators declined. The International Labor Organization announced the possibility that... There are 25 million unemployed, and the World Tourism Organization stated that the tourism sector loses a million job opportunities every day. International financial organizations and developed countries have rushed to launch huge initiatives and programs (financial and monetary) to stimulate and support their economies by reducing interest rates to levels close to zero, providing financial support and loans, and adopting accommodative policies to support economic activity.

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Published

2021-10-14

How to Cite

Abd, H. A. (2021) “Stable oil prices. what does it mean for the future?”, Al-Ghary Journal of Economic and Administrative Sciences, 17(1), pp. 156–159. doi: 10.36325/ghjec.v17i1.1663.

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