14min chapter

Many Happy Returns cover image

The Most Important Number in Investing

Many Happy Returns

CHAPTER

The Impact of Oil Prices on the Global Economy

This chapter discusses the influence of oil prices on the global economy and how it affects economic activity. It explores the different benchmarks for oil prices, the advantages of futures contracts in the oil market, and the difficulty of predicting oil prices. The relationship between oil supply, demand, and the price of oil, as well as the role of OPEC and OPEC Plus in production, are also analyzed.

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