Is the world now less sensitive to oil prices?

Oil price movements have big effects on individual economies, companies and assets. But we suspect that their impact on aggregate global demand is smaller now than it was a decade or two ago. This is due to the fiscal situation in the Gulf, the shale revolution and the low and stable rate of inflation.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.