What are the effects of inflation, recession, and unemployment on the oil industry???
Inflation makes things cost more. That cuts into a company’s profits and forces them to charge more for their products. Recession means that more people are unemployed, meaning that they have less money, so fewer people are buying products. Unemployment would also mean that fewer people are going to work everyday, meaning less gas sales. Oil companies are just another business, and economic fluctuations hurt or help them as much or more than anyone else.
