According to Dr Nakhle, from the consumers’ point of view, and especially for countries with large oil import bills, high oil prices can slow down or delay their economic recovery.
“Oil Intensity: The curious relationship between oil and GDP“, Christof Rühl and Tit Erker, May 2021
“Global Economy and Energy Markets Weekly Commentary – 4th Jul ’21“, Christof Rühl, Jul 2021
“OPEC+ output decision and oil market outlook“, Dr Carole Nakhle, Jul 2021
“Iran’s return to global oil markets“, Dr Carole Nakhle, Jun 2021