Oil Glut may bring Philippine prosperity

Oil-ipedia! 6 price scenarios, 45 economies. 21 see negative inflation in 2015 with oil at $40 http://t.co/ulSBXVDRZp pic.twitter.com/j8lCx351SE
— Oxford Economics (@OxfordEconomics) December 9, 2014

In a report "Oil-ipedia" released in December, Oxford Economics said the Philippine economy will grow by an average of 7.6 percent over the next two years if oil dropped to $40 per barrel. 

"As prices get lower, the prize to the fastest growing major economy goes to… the Philippines, whose GDP growth would pick up to 7.6% on average over the next two years, were oil prices to slump as far as $40 per barrel," Oxford Economics said.

The report presented the impact of oil price declines on key macro and financial variables for 45 of the largest economies around the world.

(ABS-CBN)