ArticleResearch in international business and finance2021
The historic oil price fluctuation during the Covid-19 pandemic: What are the causes?
Article in Research in international business and finance, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 11 papers.
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Who cites it
11 citing papers in PubMed, 112 citations in OpenAlex.
- Article
- Navigating crisis: The effect of COVID-19 on sports entrepreneurs and service excellence in non-profit organizations.Heliyon · 2024Article
- The impacts of global economic policy uncertainty on green bond returns: A systematic literature review.Heliyon · 2024Review
- Implications of the COVID-19 pandemic on the shanghai, New York, and Pakistan stock exchanges.Heliyon · 2023Article
- A threshold effect of COVID-19 risk on oil price returns.Energy economics · 2023Article
- Green stocks, crypto asset, crude oil and COVID19 pandemic: Application of rolling window multiple correlation.Resources policy · 2022Article
- Testing oil price volatility during Covid-19: Global economic impact.Resources policy · 2022Article
- A singular value decomposition entropy approach to assess the impact of Covid-19 on the informational efficiency of the WTI crude oil market.Chaos, solitons, and fractals · 2022Article
- Developing long- and short-run nexus between industrial growth, economic growth, and trade balance of China.Environmental science and pollution research international · 2022Article
- Oil prices volatility and economic performance during COVID-19 and financial crises of 2007-2008.Resources policy · 2022Article
- Does a sanitary crisis drive oil prices and carbon emissions in the USA? Evidence from VECM modeling.Environment, development and sustainability · 2022Article
Corrections and comments
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Authors and funding
3 authors at 2 institutions in 3 countries.
Funding
No grant is acknowledged in the PubMed record.
Abstract
On 20 April 2020, the West Texas Intermediate (WTI) crude oil price dropped to negative levels for the first time in history. This study examines the factors underlying the historic oil price fluctuation during the Covid-19 pandemic. The autoregressive distributed lag (ARDL) bounds testing approach incorporating a structural break is applied to the daily series from 17 January to 14 September 2020 to analyze long-run relationships and short-run dynamics. The results reveal that increases in Covid-19 pandemic cases, US economic policy uncertainty, and expected stock market volatility contributed to the fall in the WTI crude oil price, whereas the fall in the global stock markets appears to significantly reduce the fall. Furthermore, the Russia-Saudi Arabia oil price war and speculation on oil futures are shown to play a critical part in the collapse of the oil markets. The findings are consistent with our expectations. Although it is reasonable to assume that the solution to this oil crisis is a pick-up in global oil demand, which will occur only when the novel coronavirus is defeated, this study proposes policy recommendations to cope with the current oil price crash.
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