Economics at your fingertips  


Zoltán Szira, Alghamdi Hani and Erika Varga

Acta Carolus Robertus, 2019, vol. Volume 9, issue Number 2

Abstract: Petroleum economics is the field that studies human utilization of petroleum resources and the consequences of that utilization. Petroleum use allows the production of energy. Resources can be regarded as renewable or depletable; petroleum falls into the latter category, which can have an effect on pricing strategies. Crude oil is one of the main natural feedstocks used to meet energy demands and price variation has a significant influence on the society development. A large amount of research suggests that oil price fluctuations have considerable consequences on economic activity. These consequences are expected to be different in oil importing and in oil exporting countries. Whereas an oil price increase should be considered positive news in oil exporting countries and negative news in oil importing countries, the reverse should be expected when the oil price decreases. The paper investigates the co-movements and causality relationship between oil prices and GDP of selected oil exporting countries. Our assumption is decreasing oil prices has a negative impact on the GDP of such countries.

Keywords: Demand and Price Analysis; International Relations/Trade (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.22004/ag.econ.301088

Access Statistics for this article

More articles in Acta Carolus Robertus from Karoly Robert University College
Bibliographic data for series maintained by AgEcon Search ().

Page updated 2020-01-30
Handle: RePEc:ags:hukruc:301088