====== GDP ======

  * higher GDP growth has historically coincided with higher oil consumption growth[(:ref:fisher_investments_energy)]

Strong GDP growth historically leads to a corresponding increase in oil demand, thus increasing prices (when holding supply constant). [(:ref:fisher_investments_energy)]

The kingdom’s reductions in output in recent months helped push prices above $90 a barrel until recently, but they’re also likely to trigger a contraction in gross domestic product this year.

As mentioned previously, industrial activity makes up a much larger percentage of GDP in certain developing economies than in many developed economies. Thus, surging eco- nomic growth in China will have a much larger effect on oil demand growth than surging economic growth in Europe or the US. [(:ref:fisher_investments_energy)]

===== What is Economic Growth? =====

Economic growth refers to an increase in the size of a country's economy over a period of time. The size of an economy is typically measured by the total production of goods and services in the economy, which is called gross domestic product (GDP).

===== Brazil GDP =====

A proxy for commodity exporters throughout the world.

[[https://www.bloomberg.com/graphics/world-economic-indicators-dashboard/#xj4y7vzkg|bloomberg.com/world-economic-indicators-dashboard]]