Oil boom
Large inflow of income from high production or prices of oil / From Wikipedia, the free encyclopedia
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This article is about economic booms in the oil sector. For the oil spill management device, see Boom (containment).
An oil boom is a period of large inflow of income as a result of high global oil prices or large oil production in an economy. Generally, this short period initially brings economic benefits, in terms of increased GDP growth, but might later lead to a resource curse.