Oil: a price with many implications

The fall in the oil price since mid-2014, to less than USD 50 per barrel at one point, is remarkable for its speed and size. The economic implications for an individual country’s economy initially depend on whether they net import or export oil. There is an impact on private consumption and companies' production costs, but there are also effects on government revenues, government spending and the inflation rate. The total impact is, therefore, dependent upon the initial situation of the individual economy, as well as the room for manoeuvre and the reactions from economic policy.

Oil: a price with many implications(PDF, 152 KB, non-accessible)