US shale oil has created dramatic changes in international markets. The United States became the world's biggest producer of crude after it overtook Saudi Arabia and Russia then returned to exporting a stop that lasted more than four decades. Its imports decreased significantly. had remarkable impact on structure trade; Other producers, including OPEC, were affected by decline their shares glob...

At the beginning of 2020, problems arose that will affect further development economy and transport, firstly, withdrawal Saudi Arabia United Arab Emirates from OPEC deal, secondly, fall in price Brent oil by more than 30%, thirdly, outbreak coronavirus infection COVID-19, which has largely affected enterprises all industries. The country’s global world is characterized volatility presence risks...

This paper examines risk-averse and risk-seeking investor preferences for oil spot and futures prices by using the mean-variance (MV) criterion and stochastic dominance (SD) approach. The MV findings cannot distinguish between the preferences of spot and futures markets. However, the SD tests show that spot dominates futures in the downside risk, while futures dominate spot in the upside profit...

This article proposes a two-stage oligopoly model for the crude oil market. In a game of several Stackelberg leaders, market power increases endogenously as the spare capacity of the competitive fringe goes down. This effect is due to the specific cost function characteristics of extractive industries. The model captures the increase of OPEC market power before the financial crisis and its dras...

Oil rents significantly contribute to income in OPEC member economies and could have environmental consequences. The present study explores the asymmetrical effects of oil on CO 2 emissions 13 current using a period 1970–2019, also tests Environmental Kuznets Curve (EKC) hypothesis. Long-run results show that economic growth has positive effect, its square term negative effect Algeria, Congo, G...

Since oil plays an important role in the economy of Azerbaijan, events global market deeply affect national economy. Moreover, COVID-19 pandemic influenced which and gas have a significant place. In April 2020, price one barrel on world fell to $1. One reason for this was decrease demand due lockdown re-gime implemented by many countries rapid outbreak pandemic, another that OPEC (Organization ...