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Asian nations driving world oil prices

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Author Info

  • Justin P. Hauke
  • Christopher J. Neely

Abstract

The rapid growth in China and India has led to an increase in demand for oil, which, in turn, has driven up prices. After adjusting for inflation, a barrel of oil today costs about what it did during the 1979 oil shock.

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Bibliographic Info

Article provided by Federal Reserve Bank of St. Louis in its journal The Regional Economist.

Volume (Year): (2007)
Issue (Month): Apr ()
Pages: 12-13

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Handle: RePEc:fip:fedlre:y:2007:i:apr:p:12-13

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Related research

Keywords: Petroleum products - Prices ; China ; India;

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