Report
US: how sensitive is growth to the price of oil?
Fifteen years ago, the US had a large oil trade deficit (3% of GDP). Today, after the shale oil revolution, it is oil independent. Even so, the impact of the sharp rise in oil prices - which the Russian-Ukrainian war is likely to underpin - is not neutral. There is a transfer of resources within the US rather than vis-à-vis the rest of the world. Based on past experience, the net effect on growth is likely to be negative, as consumption will be curbed and will not be fully offset...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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