Fluctuations Of Oil Prices And Its Impact On Usa Gdp Growth

2341 Words Jul 23rd, 2015 10 Pages
Fluctuations of oil prices and its impact on USA GDP growth

Rajashekhar Reddy Mallugari
CISK 518
Quantitative techniques

Contents:
Background 2
Research Aim 3
Research Objectives 3
Research questions 3
Structure of the dissertation 3
Review of Literature 5
Research methodology 6
Research approach 6
Research strategy 7
Data collection methods 7
Data Analysis 7
Conclusion 11
References 11

Background
The present study is intended to analyse the relationship between oil prices fluctuations and its role on GDP growth of United States economy. Oil crisis is prevailing in almost all developed and emerging nations for more than 40 years. Remarkable increase in oil prices have commenced from 2001 and decrease in prices was observed in 2008 during financial crisis. During decreased demand in Dec 2008, the crude oil prices dropped from 145 USD to 33 USD. However, soon prices started to rise sharply as then before. Oil caters 36% of US energy demand currently (Kilian, 2008). Oil is reported as main mover for US economy as 70% were consumed for transportation and rest 24% for industry and manufacturing and final 5% for commercial and residential sectors. The primary oil consumption rate continues to rise linearly and achieved its peak during 2008 and 2009.
Research Aim
The chief aim of the research study is to analyse the movements in the oil prices and its impact over US economic growth.
Research Objectives
The main objectives of the research are to assess the…
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