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 Journal of Statistics and Management Systems cover
Open Access ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510

Monthly Journal: Publishes peer-reviewed aticles on theoretical and applied statistics and management systems, expoloring industrial statistics, actuarial and decision sciences.

Issues up to 2022 co-published with and available at:Taylor & Francis Online
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Open Access Research Article

Fuelling the future : A comparative exploration of energy prices in India and the US

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pp. 187–200Vol. 27Issue 1January 2024DOI: 10.47974/JSMS-1212XML
Received:
08 Aug 2023
Published Online:
27 Nov 2023
Article type:
Research Article
Language:
EN
Article no.:
JSMS-1212
Pages:
187–200

Abstract

India’s crude oil consumption is expected to continue to increase, driven by economic growth and rising demand for transportation fuels. This will further boost India’s dependence on imported oil. The U.S. petroleum industry has several strengths, including its large resource base, technological expertise, and its access to capital. This paper analyses the association between economic conditions and the price of Crude Oil in a cross-country setting. The study uses a secondary data series of two prominent nations throughout 2013-2023. The analysis revealed a significant long-term price correlation between natural gas and crude oil, indicating a relationship between the prices of these energy commodities. The ramifications of the study’s conclusions hold significant relevance for investors and politicians. Investors should be aware that the cost of crude oil will likely be higher during economic uncertainty and inflation. Policymakers should also be mindful of Crude Oil’s role in the financial system and take steps to mitigate any potential risks.

Keywords

Subject Classifications

91B7091B84

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