An analysis of OPEC oil production reaction to non-OPEC oil supply

Kisswani, Khalid M.; Lahiani, Amine; Mefteh‐Wali, Salma

doi:10.1016/j.resourpol.2022.102653

Cited by 10 publications

(1 citation statement)

References 29 publications

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“…The CPI evolution for the six considered countries (Germany, Spain, Slovenia, Romania, Lithuania, and Greece) differs greatly from one case to another. Since we are interested in the dependence of the Core Price Index (without the volatile components introduced by the change in food or energy prices) on the succession of pandemic waves, we Notable is the fact that the model does not take into consideration the eventual political decision of OPEC to raise or reduce oil production [28,29], nor of Russia's political influence on oil prices or, alternatively, the demand-side alteration of countries in the EU towards Russian petroleum [30,31], which can be seen in the last months of the data simple The negative value of the c5 coefficient corresponds to a reduction in the rate of increase of the oil price.…”

Section: The Regression Models Of the Consumer Price Indexmentioning

confidence: 99%

The Pandemic Waves’ Impact on the Crude Oil Price and the Rise of Consumer Price Index: Case Study for Six European Countries

Boldea

Iancu³

2023

Sustainability

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This study examines the response of the Consumer Price Index (CPI) in local currency to the COVID-19 pandemic using monthly data (March 2020–February 2022), comparatively for six European countries. We have introduced a model of multivariate adaptive regression that considers the quasi-periodic effects of pandemic waves in combination with the global effect of the economic shock to model the variation in the price of crude oil at international levels and to compare the induced effect of the pandemic restriction as well and the oil price variation on each country’s CPI. The model was tested for the case of six emergent countries and developed European countries. The findings show that: (i) pandemic restrictions are driving a sharp rise in the CPI, and consequently inflation, in most European countries except Greece and Spain, and (ii) the emergent economies are more affected by the oil price and pandemic restriction than the developed ones.

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