Concept information
Preferred term
petroleum economy
Definition
- Petroleum is one of the most important aspects of the global economy. Trade in petroleum accounts for a major portion of international trade, and a fluctuation in oil prices can dramatically affect economies throughout the world. [Source: Encyclopedia of Global Studies; Petroleum Economy]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/petroleum_economy
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