Abstract
Sectoral sensitivity of Oman stock market to oil price movements
Highlights
The oil industry is facing its severest crisis, the collapse in oil prices since 2014 is expected to continue, and oil prices are projected to stay at a low level for a longer period of time
Gulf Cooperation Council (GCC)’s revenues are increasingly dependent on oil, which make the economies of those countries susceptible to oil price fluctuations
The recent fall of oil prices encourages academics to explore its impact on GCC economies, to predict the outlook of these economies, and to determine the level of success of economic policies intended to decrease the reliance on oil markets
Summary
The oil industry is facing its severest crisis, the collapse in oil prices since 2014 is expected to continue, and oil prices are projected to stay at a low level for a longer period of time. This low price is creating some challenges for the Gulf Cooperation Council (GCC) countries. Bahrain, followed by Oman are at the bottom of the list (Hasan Al-Naser, M., 2019) Those countries are the main players in energy and oil markets around the world, as they own the majority of oil reserves with economies heavily reliant on oil.
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