Oil Price Risks

Oil Price Risks

Oil prices more than tripled between January 2004 and March 2008. The effects can be hard on countries with large net oil imports relative to income. This note sets out a measure of vulnerability to oil price shocks and breaks it down into its components. That allows cross-country benchmarking and helps to show how changes in such factors as energy efficiency and the real exchange rate can make countries more vulnerable or less so.

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Bibliographic Details
Main Authors: Bacon, Robert, Kojima, Masami
Language:English
Published: World Bank, Washington, DC 2008-06
Subjects:APPROACH, AVERAGE OIL PRICE, BALANCE, BALANCE OF PAYMENTS, BARREL, CONSUMPTION OF OIL, CRUDE OIL, CRUDE OIL PRICE, CRUDE PRICE, DEMAND FOR ENERGY, DOMESTIC ENERGY, DOMESTIC OIL, DOMESTIC OIL CONSUMPTION, DOMESTIC OIL PRODUCTION, ENERGY CONSUMPTION, ENERGY EFFICIENCY, ENERGY INFORMATION ADMINISTRATION, ENERGY INTENSITY, ENERGY POLICIES, ENERGY POLICY, ENERGY USE, FOREIGN EXCHANGE, FUEL, FUEL OIL, FUELS, GAS, HIGH OIL PRICES, INCOME, INCREASING ENERGY EFFICIENCY, INTERNATIONAL ENERGY AGENCY, NET OIL, OIL, OIL IMPORT, OIL IMPORT BILL, OIL IMPORTERS, OIL IMPORTS, OIL PRICE, OIL PRICES, OIL PRODUCERS, OIL PRODUCTS, OIL RESERVES, OIL-IMPORTING COUNTRIES, POWER, POWER SECTOR, PRIMARY ENERGY, PRIMARY ENERGY CONSUMPTION, PRIVATE SECTOR, REFINED PRODUCTS, THE GAMBIA, TOTAL PRIMARY ENERGY CONSUMPTION,
Online Access:http://documents.worldbank.org/curated/en/2008/06/9648915/oil-price-risks
https://hdl.handle.net/10986/11151
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Summary:Oil prices more than tripled between January 2004 and March 2008. The effects can be hard on countries with large net oil imports relative to income. This note sets out a measure of vulnerability to oil price shocks and breaks it down into its components. That allows cross-country benchmarking and helps to show how changes in such factors as energy efficiency and the real exchange rate can make countries more vulnerable or less so.

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