REDUCING THE USAGE OF CRUDE OIL — WHAT CAN BE LEARNED FROM HIGHEST CRUDE CONSUMER COUNTRIES?

2012 ◽  
Vol 11 (02) ◽  
pp. 233-246
Author(s):  
BEZALEL GAVISH ◽  
ROYI GAVISH
Keyword(s):  
Crude Oil ◽  
Sharp Increase ◽  
Oil Prices ◽  
High Variability ◽  
Oil Consumption ◽  
Conservation Policies ◽  
Crude Oil Prices ◽  
Production And Consumption ◽  
Consumption Reduction ◽  
The Relationship

The production and consumption of crude oil became a major issue with the sharp increase in crude oil prices that took place during the last few months. We investigate the relationship between crude oil consumption and the GDP of the top crude oil consuming countries. The amount of GDP produced per barrel of crude oil varies significantly between different countries; the ratio is in the range of 2% to 10% of the GDP when the price of a barrel of crude oil is $100. The paper attempts to explain the high variability with the aim of learning from high GDP producers as to how they are able to generate a larger GDP per barrel of crude oil consumption. The paper also identifies a hysteresis effect in crude consumption reduction and illustrates how understanding it can lead to better production and conservation policies.

scholarly journals THE RELATIONSHIP BETWEEN CRUDE OIL PRICES AND STOCK MARKET: THE INDIAN CASE

2020 ◽  
Vol 2 (1) ◽  
pp. 1-11
Author(s):  
Premkumar Rajnathan
Keyword(s):  
Stock Market ◽  
Crude Oil ◽  
Stock Exchange ◽  
Human Life ◽  
Oil Prices ◽  
Equity Returns ◽  
Indian Economy ◽  
Crude Oil Prices ◽  
Investment And Financing ◽  
The Relationship

Crude oil is influencing every productivity activity of human life either directly or indirectly. The prices of crude oil also influence the international financial markets. This influence connects the oil market with that of capital market since stock market provides it necessary resources for investment and financing the production. In this study, the objective was to test the relationship between crude oil prices and selected sectors of Indian economy. Furthermore, the study also tests the effects of international crude oil prices on the Indian stock exchange market. The main objective was to test the conditional correlation of the crude oil price and equity returns of selected sectors of the Indian economy as well as the performance indicators of the Indian stock market using bivariate volatility models.

scholarly journals PAIN AT THE PUMP: IS THERE AN ASYMMETRIC INFLUENCE OF OIL VOLATILITY ON GASOLINE VOLATILITY IN FRANCE?

2015 ◽  
Vol 21 (2) ◽  
Author(s):  
SOFIANE ABOURA
Keyword(s):  
Crude Oil ◽  
Oil Prices ◽  
Conditional Correlation ◽  
Dynamic Conditional Correlation ◽  
Taxation Policy ◽  
Crude Oil Prices ◽  
The Us ◽  
The Government ◽  
First Time ◽  
The Relationship

<p class="ESRBODY">We investigate, for the first time, the relationship between gasoline volatility and crude oil volatility. We aim to examine if the so-called asymmetric relationship between gasoline and crude oil prices holds for volatility. The approach employed is based on the asymmetric dynamic conditional correlation model as applied to the US WTI oil volatility and the French Super Carburant 95 gasoline volatility from 1990 to 2014.</p>The results reveal that gasoline volatility tends to be overreactive to changes in crude oil volatility. Moreover, it appears that the government taxation policy might amplify the gasoline volatility

The relationship between spot and official crude oil prices

OPEC Review ◽  
1984 ◽  
Vol 8 (4) ◽  
pp. 341-349 ◽  
Author(s):  
M. Desmond Fitzgerald ◽  
Gerald Pollio
Keyword(s):  
Crude Oil ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
The Relationship

Oil Prices and Economic Growth in Major Emerging Economies

2020 ◽  
pp. 1-23
Author(s):  
Emrah I Cevik ◽  
Sel Dibooglu ◽  
Tugba Kantarci ◽  
Hande Caliskan
Keyword(s):  
Crude Oil ◽  
Emerging Economies ◽  
Economic Activity ◽  
Oil Prices ◽  
Energy Prices ◽  
Empirical Results ◽  
Crude Oil Prices ◽  
Causality Tests ◽  
The Difference ◽  
The Relationship

There is a strong correlation between energy prices and economic activity. The relationship particularly holds true for crude oil as changes in oil prices are associated with changes in production costs, and economic activity also generates significant demand for energy and crude oil. This chapter examines the relationship between economic activity and crude oil prices using causality tests in the frequency domain and taking into account the difference between positive and negative changes in both oil prices and economic activity as the relationship can be asymmetric. The authors present empirical results for major emerging economies including Brazil, Russia, India, China, South Africa, and Turkey. Empirical results indicate that for most countries there is bidirectional causality between crude oil prices and economic activity whereas only negative oil price shocks seem to negatively affect economic activity.

scholarly journals THE RELATIONSHIP BETWEEN CRUDE OIL PRICES, EUR/USD EXCHANGE RATE AND GOLD PRICES

2020 ◽  
Vol 10 (5) ◽  
pp. 234-242
Author(s):  
Benlaria Houcine ◽  
Gheraia Zouheyr ◽  
Belbali Abdessalam ◽  
Hadji Youcef ◽  
Abdelli Hanane
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
The Relationship

scholarly journals The Impact of Oil Price Shocks on Oil-Dependent Countries’ Currencies: The Case of Azerbaijan and Kazakhstan

2021 ◽  
Vol 14 (9) ◽  
pp. 431
Author(s):  
Katarzyna Czech ◽  
Ibrahim Niftiyev
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Crude Oil ◽  
Oil Prices ◽  
Oil Price ◽  
Impulse Response Functions ◽  
The Caspian Sea ◽  
Crude Oil Prices ◽  
The Impact ◽  
The Relationship

The paper aims to assess the relationship between Azerbaijani and Kazakhstani exchange rates and crude oil prices volatility. The study applies the structural vector autoregressive (SVAR) model. The paper concentrates on Azerbaijan and Kazakhstan, the post-Soviet countries considered as some of the most oil-dependent countries in the Caspian Sea region. The impulse response functions suggest that the rise of crude oil prices is associated with the exchange rates decrease and thus with an Azerbaijani manat and Kazakhstani tenge appreciation against the U.S. dollar. Moreover, the results suggest that an oil price increase leads to the rise of Azerbaijani international reserves. However, the results are insignificant for the Kazakhstani foreign exchange reserves. Additionally, the study reveals a negative and significant relationship between crude oil prices and USD/KZT in both pre-crisis and the COVID-19 crisis periods. We reveal that the correlation has been stronger during the COVID-19 pandemic. However, the relationship is not significant in the case of the Azerbaijani manat. The USD/AZN exchange rate has been stable since 2017, and the first phase of the COVID-19 pandemic has not caused a change in the exchange rate and a weakening of the Azerbaijani currency, despite significant drops in crude oil prices.

scholarly journals Sensitivity of stock market indices to oil prices: Evidence from manufacturing sub-sectors in Turkey

2012 ◽  
Vol 59 (4) ◽  
pp. 463-474 ◽  
Author(s):  
Halil Eksi ◽  
Mehmet Senturk ◽  
Semih Yildirim
Keyword(s):  
Crude Oil ◽  
Oil Prices ◽  
Manufacturing Industries ◽  
Crude Oil Price ◽  
Correction Model ◽  
Crude Oil Prices ◽  
Highly Sensitive ◽  
Long Time ◽  
The Relationship

Crude oil price is a critical cost factor for manufacturing industries that are of vital importance for economic growth. This study examines the relationship between crude oil prices and the indices of seven Turkish manufacturing sub-sectors over the period 1997:01-2009:12. The error correction model results reveal the long term causality from crude oil prices to chemical petroleum-plastic and basic metal sub-sectors indicating that these sub-sectors are highly sensitive to crude oil prices. We find no causal relationship for other sector indices for short or long time periods.

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