Abstract

This paper aims to see if an inverse relationship exists between political stability and oil price movements for countries that supply oil to the global market. The theoretical part of this paper explains the impact of foreign policy, environmental issues, and energy policy on political stability. Changes in political stability can lead to changes in demand and supply, resulting in oil price fluctuations. To analyze these relationships, I use panel data to evaluate the political stability of the top twenty-five global oil-producing countries and their export oil prices. The top twenty-five oil-producing countries greatly impact the change in oil prices, accounting for ninety percent of the global oil market. The results of my analysis show a negative correlation between changes in political stability and weather changes, which can lead to fluctuations in oil prices. Future research could expand on these findings to identify more variables in this relationship, longitudinal effects on these variables, and the impact of particular events on oil prices.

Advisor

Luri, Moses

Department

Global and International Studies

Disciplines

Economics

Publication Date

2023

Degree Granted

Bachelor of Arts

Document Type

Senior Independent Study Thesis

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