النمو الاقتصادي العالمي وأثره في اقتصاديات النفط خلال الفترة 1980-2005

Currently, oil is considered as the most important commodity in our planet. It exceeds third of the international trade while world transportation, electricity, agriculture, and industry depend on oil. Economists have different opinions regarding issue of cause and effect of oil industry and world growth. This paper aims to clarify the issue. It found using econometric model that the causality direction is from world economic growth to oil price and its demand.