The impact of the development of oil prices on the balances of international markets during the period 2011-2021, a case study of the countries of the Organization for Economic Cooperation and Development

Abstract

This study aimed to know the impact of the development of oil prices on the international market balances by taking a group of OECD countries as a sample. In the period 2010-2021 and its impact on oil demand and supply, then subjecting these variables to a standard study using the simple linear regression equation in the origin 08 program, where the results of the study were as follows:
The existence of a direct and significant relationship between oil prices and demand and oil supply showing the impact of the development of oil prices on the international market balances, whether through high prices and consequently increased demand for oil and lack of supply or through low prices and therefore weak demand for oil, and in fact there are Many variables control the rise or fall of prices other than the economic and political variables. Sometimes the statements of the
heads of major countries controlling international markets such as Russia, for example, may control the rise or fall of oil prices