Modeling the Oil Price Influences Upon the Energy Sector in the Macroeconomic Context. Empirical Evidence from Central and Eastern European Countries

Dumiter Florin Cornel (), Nicoară Ștefania Amalia (), Nicoară Samuel (), Bențe Cristian () and Păiușan Luminița ()
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Dumiter Florin Cornel: “Vasile Goldiș” Western University of Arad, Romania, Faculty of Economics, Computer Science and Engineering
Nicoară Ștefania Amalia: “Vasile Goldiș” Western University of Arad, Romania, Faculty of Economics, Computer Science and Engineering
Nicoară Samuel: University of Oradea, Romania, Doctoral School of Economic Sciences
Bențe Cristian: “Vasile Goldiș” Western University of Arad, Romania, Faculty of Social Sciences, Humanities and Physical Education and Sport
Păiușan Luminița: “Vasile Goldiș” Western University of Arad, Romania, Faculty of Economics, Computer Science and Engineering

Studia Universitatis „Vasile Goldis” Arad – Economics Series, 2025, vol. 35, issue 1, 1-29

Abstract: The oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector. The study is focused on Central and Eastern European Countries which have similarities and differences both at the energy sector level and economy level. The econometric techniques used in this study reveal the importance of the causality relationship between oil price movements and the energy sector taking into account the macroeconomic context. The conclusions of this study highlight some important fine-tuning aspects that must be recalibrated in Central and Eastern European Countries to increase the economic outcomes, strengthen the energy sector, and respond properly to the oil price movement trends.

Keywords: Oil price; energy consumption; macroeconomic variables; economic modeling; economic outcomes (search for similar items in EconPapers)
JEL-codes: O13 Q43 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:suvges:v:35:y:2025:i:1:p:1-29:n:1001

DOI: 10.2478/sues-2025-0001

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