Research On The Oil Prices And Growth Of Economic In China

Key elements of energy is supporting a country’s economic development， is also acountry to achieve sustainable economic growth strategic elements. While oil occupiesthe core status in the process of industrial economic development， in promoting acountry’s or region’s economic development plays an irreplaceable role. Oil is anon-renewable resources at the same time， have very strong scarcity and irrefragable，with each country or region’s economic rapid development， the demand for oil hasincreased rapidly， but the market demand of oil is far greater than the supply of oil，leading to oil price presents severe fluctuations， brings serious harm the economy. Oilprices， in general， is divided into the spot price， Cushing Oklahoma state supplyprice， SaLuoM supply three kinds of price， because of the different kinds of oil ofsulfur content， producing area， the proportion of differences in aspects and so on， sothe price also has certain differences， most of the oil in the form of counter trade，rather than determined by market trading， market price generally refer to relevantpricing agency price. Thirty years of reform and opening up， China’s economy hasrealized nearly double-digit annual growth， the sharp rise in China’s oil importdependency， according to Chinese customs statistics， China’s oil imports reached27100tons in2012， year-on-year growth of6.8%. Oil are playing an increasinglyimportant role in the development of national economy， the upstream industry，petroleum industry is a kind of for various industries have ripple effects， thereforestudying the impact of oil prices on economic growth to promote steady development ofnational economy security and maintenance of oil system has the profound theoreticalvalue and practical significance. System in this paper analyses the history and currentsituation of oil price fluctuations， on the basis of our country oil price fluctuations isextremely influential factors are studied， and then from the perspective of the empiricalrelationship between oil prices and economic growth in China carried on the thoroughanalysis，finally proposed the stable oil prices，promote the sustainable development ofthe economic policy recommendations. This study points out that the oil price fluctuation influenced by many factors， such as supply and demand， international oil reserves，drilling costs， the development of alternative energy sources， and uncertainty. Throughempirical study points out that our country has a positive relationship between oil pricesand economic growth， because this is in reference to the United States， Russia’sresponse to fluctuations in the price of oil related measures on the basis of， from ourcountry petroleum reserve strategy， the price of oil pricing mechanism， the capitalmarket building， alternative energy strategy， and oil supply diversification strategy，etc， put forward the corresponding stable oil prices， measures， give play to the roleof petroleum energy in the economic growth target to realize the goal of China’s oilsecurity and economic growth provides a certain reference.