Oil burden

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Oil burden is the volume of petroleum consumed multiplied by the average price and divided by nominal gross domestic product.[1] This gives the proportion of the world economy devoted to buying oil. It is a concept developed by Veronique Riches-Flores of Société Générale. It is also referred to as Gross Domestic Product per barrel.

References[edit]

  1. ^ Authers, John (October 24, 2007). "The Short View: Oil burden". Financial Times.