Magic number (oil)
id:
magic-number-oil-277-17128840
title:
Magic number (oil)
text:
The magic number is a term in economics that denotes the price of crude oil at which a crude oil exporting economy runs a deficit. Some countries support almost all spending from income derived from oil exports. As the price of oil drops, these countries take in less revenue from oil. The magic number denotes the point at which the revenue from oil is no longer sufficient to pay for spending. Mathematically, this can be expressed by the inequality: where Q is the quantity of oil exported, P is t
brand slug:
wiki
category slug:
encyclopedia
description:
Term in Economics
original url:
https://en.wikipedia.org/wiki/Magic_number_(oil)
date created:
date modified:
2023-06-05T07:25:24Z
main entity:
{"identifier":"Q6730951","url":"https://www.wikidata.org/entity/Q6730951"}
image:
fields total:
13
integrity:
14