Energy Markets and Global Economic Conditions

Christiane Baumeister, Dimitris Korobilis and Thomas K. Lee

The Review of Economics and Statistics, 2022, vol. 104, issue 4, 828-844

Abstract: We evaluate alternative indicators of global economic activity and other market fundamentals in terms of their usefulness for forecasting real oil prices and global petroleum consumption. World industrial production is one of the most useful indicators. However, by combining measures from several different sources, we can do even better. Our analysis results in a new index of global economic conditions and measures for assessing future energy demand and oil price pressures. We illustrate their usefulness for quantifying the main factors behind the severe contraction of the global economy and the price risks faced by shale oil producers in early 2020.

Date: 2022
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https://doi.org/10.1162/rest_a_00977
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Related works:
Working Paper: Energy Markets and Global Economic Conditions (2020)
Working Paper: Energy Markets and Global Economic Conditions (2020)
Working Paper: Energy Markets and Global Economic Conditions (2020)
Working Paper: Energy Markets and Global Economic Conditions (2020)
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