A Study on the Factors That Affect the Oil Prices in the World

DOI

10.2991/sschd-19.2019.87How to use a DOI?

Keywords

Oil prices, Granger causality test, US dollar index.

Abstract

Oil is one of the most important resources of human life. Its value lies in its scarcity. In addition, oil has some financial properties, so that it is worthwhile to study the factors that affect the prices of oil. This article first introduces the background, meaning and the methods of the study. After that, we analyze the relevant theories in the literature reviews. Then, we set up empirical models to carry out ADF test, co-integration test and Granger causality test. We studied the relation among the USD index, world GDP, oil consumption and oil price. We find that the USD index was the cause, oil price was the result; the oil price and the amount of oil consumption were mutual causes.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Shifen Wang
AU  - Xinru Pan
PY  - 2019/12
DA  - 2019/12
TI  - A Study on the Factors That Affect the Oil Prices in the World
BT  - Proceedings of the 5th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2019)
PB  - Atlantis Press
SP  - 400
EP  - 404
SN  - 2352-5398
UR  - https://doi.org/10.2991/sschd-19.2019.87
DO  - 10.2991/sschd-19.2019.87
ID  - Wang2019/12
ER  -