How change in oil prices affect the stock market of GCC prices

The main aims of this assignment is to:
Use what you have learned in this course to analyse the effect of oil price changes on stock markets of the GCC.

This assignment is required to assess your written and analytical abilities to analyze the effect of oil price movements on stock market performance (equity prices). In particular, your analysis should bring an answer to the following question:

How the changes in oil prices affect the performance of stock markets of the GCC countries?
Assignment description:
Between July 2014 and January 2015, oil prices lost over 40% of their values. In one day ( November 28th , 2014) the decrease in oil prices recorded to be around 10%, which led researchers to compare this day with Black Monday stock market crash of October 19th, 1987. Analysts relate this drop in prices to the slowdown of major economies in the world and the expected inconsistency between the demand and the supply of oil.
However, some important issues in this discussion is whether cheap oil prices makes stock investment more (or less) attractive for investors? and why stock prices may change with oil price changes.
The above only sample of issues you may discuss, but your analysis should not be limited to bring answers to these questions.
In this assignment, You are required to write a report that will not exceed 1000 words, on the effect of oil price changes on the GCC stock market prices.
You must follow Qatar Universitys formatting guidelines and include references. The report will be graded on the detailed criteria outlined at the end of this document. The recommended layout of your report is suggested to be as follows:
Cover page (your names, student ID, date & number of words)
Executive summary (A high level summary of the project)
Table of contents
Introduction (analysis of oil prices historical changes)
How GCC stock markets behave as a response of the movements in oil prices.
Analysis of the effect of oil price changes on stock prices of Qatar Exchange relative to the region and the world.
Important notes:
– Your project should be no more than 900 words (executive summary and any references and appendices do not count towards the word limit).

Reading list: