Impact of fluctuations in global oil prices on Saudi Arabia's gross domestic product: A machine learning analysis

IF 1.7 4区综合性期刊 Q2 MULTIDISCIPLINARY SCIENCES

Journal of Radiation Research and Applied Sciences Pub Date : 2025-03-18 DOI:10.1016/j.jrras.2025.101436

Abdallah Sayed Mossalem Ahmed Elshafei , Mansour Shrahili , Mohamed Kayid , Shahid Mohammad

{"title":"Impact of fluctuations in global oil prices on Saudi Arabia's gross domestic product: A machine learning analysis","authors":"Abdallah Sayed Mossalem Ahmed Elshafei , Mansour Shrahili , Mohamed Kayid , Shahid Mohammad","doi":"10.1016/j.jrras.2025.101436","DOIUrl":null,"url":null,"abstract":"<div><div>Saudi Arabia's economy is highly dependent on oil exports. This paper examines the relationship between fluctuations in global the oil prices and Saudi Arabia's Gross Domestic Product (GDP) from 1970 to 2022, utilizing machine learning techniques for analysis. The results reveal a strong positive correlation between the oil prices and GDP growth, particularly during periods of high the oil prices, which increase government revenues and stimulate investment. However, this relationship is complex and influenced by various factors, including global oil price changes, geopolitical events, and national economic policies. The study emphasizes the urgent need for Saudi Arabia to diversify its economy to reduce its dependence on oil. By doing so, the kingdom can better manage the risks associated with oil price volatility and enhance its long-term economic resilience, preparing for a more balanced and sustainable future.</div></div>","PeriodicalId":16920,"journal":{"name":"Journal of Radiation Research and Applied Sciences","volume":"18 2","pages":"Article 101436"},"PeriodicalIF":1.7000,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Radiation Research and Applied Sciences","FirstCategoryId":"103","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1687850725001487","RegionNum":4,"RegionCategory":"综合性期刊","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"MULTIDISCIPLINARY SCIENCES","Score":null,"Total":0}

引用次数: 0

Abstract

Saudi Arabia's economy is highly dependent on oil exports. This paper examines the relationship between fluctuations in global the oil prices and Saudi Arabia's Gross Domestic Product (GDP) from 1970 to 2022, utilizing machine learning techniques for analysis. The results reveal a strong positive correlation between the oil prices and GDP growth, particularly during periods of high the oil prices, which increase government revenues and stimulate investment. However, this relationship is complex and influenced by various factors, including global oil price changes, geopolitical events, and national economic policies. The study emphasizes the urgent need for Saudi Arabia to diversify its economy to reduce its dependence on oil. By doing so, the kingdom can better manage the risks associated with oil price volatility and enhance its long-term economic resilience, preparing for a more balanced and sustainable future.

查看原文本刊更多论文

全球油价波动对沙特阿拉伯国内生产总值的影响：机器学习分析

沙特阿拉伯的经济高度依赖石油出口。本文利用机器学习技术分析了1970年至2022年全球油价波动与沙特阿拉伯国内生产总值（GDP）之间的关系。结果显示，油价与GDP增长之间存在强烈的正相关关系，特别是在高油价时期，这增加了政府收入并刺激了投资。然而，这种关系是复杂的，并受到各种因素的影响，包括全球石油价格变化、地缘政治事件和国家经济政策。该研究强调，沙特阿拉伯迫切需要实现经济多元化，以减少对石油的依赖。通过这样做，沙特可以更好地管理与油价波动相关的风险，增强其长期经济弹性，为更加平衡和可持续的未来做好准备。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Radiation Research and Applied Sciences MULTIDISCIPLINARY SCIENCES-

自引率

5.90%

发文量

130

审稿时长

16 weeks

期刊介绍： Journal of Radiation Research and Applied Sciences provides a high quality medium for the publication of substantial, original and scientific and technological papers on the development and applications of nuclear, radiation and isotopes in biology, medicine, drugs, biochemistry, microbiology, agriculture, entomology, food technology, chemistry, physics, solid states, engineering, environmental and applied sciences.