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New Innovation Secures Oil Supplies

New Innovation Secures Oil Supplies

Moxa
Pages 6 Pages

Oil prices affect the global economy tremendously. Based on the estimates of the US Federal (Fed) Reserve System, every USD 10 rise per barrel in oil prices shaves 0.1% off GDP growth. A series of impacts stemming from the COVID pandemic and disruptions to the global supply chain have propelled the global supply of energy into severe turbulence and a potential energy crisis.

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