The Simultaneous Economic Impact of the Corona Virus and the Reduction of Oil Prices on OPEC Organization
Issue:
Volume 6, Issue 1, February 2021
Pages:
1-10
Received:
24 December 2020
Accepted:
6 January 2021
Published:
18 January 2021
Abstract: The world’s impact coincided with two major events at the same time that had a major impact on the global economy without exception in the beginning of 2020, as there was a very large drop in oil prices at the level of the world, as this coincided with the emergence of the Corona virus, which affected the economy of all countries of the world without exception, and so it was the research problem is summarized in reaching the extent of the impact of the coincidence of a decrease in global oil prices with the existence of the Corona crisis on OPEC organization, and therefore the multiple regression model was relied upon, depending on the World Bank data, and the research concluded that 78.1% of the change in Y is due to The change in X4 and X3 and 21.9% of the changes due to other factors were not taken into account. It is noticed that 54.6% of the change in Y is due to the change in oil price X3 and 23.5% of the change in Y is due to the change in X4, and the research also found that it was the Corona pandemic Clear effects were reflected in the image of reducing oil demand as a result of the precautionary measures taken by the countries of the world to confront the Corona pandemic, especially with the prevention of air traffic, as well as the reduction of travel by land. Based on this, the research recommends that OPEC organization should prepare for the near future by developing flexible strategies and scenarios that take into account the sharp price fluctuations of oil, not fully relying on oil as a source of public revenues for some OPEC countries, and working on finding auxiliary factors as a source of income in addition to oil. Besides activating the role of a management for disease crises and pandemics, take their consequences into consideration, and follow scientific methods in facing their economic consequences.
Abstract: The world’s impact coincided with two major events at the same time that had a major impact on the global economy without exception in the beginning of 2020, as there was a very large drop in oil prices at the level of the world, as this coincided with the emergence of the Corona virus, which affected the economy of all countries of the world witho...
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Dynamics Mechanism of Vulnerability for Petroleum Enterprises
Zhirong Zhang,
Lichun Hou,
Zhenshan Lin,
Weihua Guan,
Huiyu Liu,
Fanyuan Zeng
Issue:
Volume 6, Issue 1, February 2021
Pages:
11-17
Received:
17 January 2021
Accepted:
2 February 2021
Published:
10 February 2021
Abstract: This article analyses the dynamics mechanism of international petrochemical enterprises vulnerability and select the key factor of resources to establish a nonlinear dynamical model, which discovering the internal binding relationship between the number of big petrochemical enterprises vulnerability, the petroleum shortage ratio (D) and the petroleum occupancy ratio of the biggest enterprise (q). The results show that, as D>q, the petroleum shortage ratio exceeds the occupancy ratio of the biggest international petrochemical enterprise in the international petroleum resource market, the following rules and characteristics exist in the evolution of petrochemical enterprises:(1) The biggest enterprise in the petrochemical system will inevitably decline. With petroleum shortage increasing, following the decline of the biggest petrochemical enterprise will be the second, the third-biggest petrochemical enterprises and so on. The number of big decline petrochemical enterprise will increase with the increase of the value of D/q. The time for the petrochemical enterprises to go decline will be from 50 to 500 days. (2) After an incident of petroleum shortage, the surviving petrochemical enterprises will go through three stages: (A) resisting stage. (B) resumption stage. (C) stable stage. The international petrochemical industry will strictly observe the even-odd or odd-even number symmetry law. If the shortage of petroleum leads to the decline of odd-number petrochemical enterprises, after the adaptability and stability, the petrochemical enterprise system will obey the even-odd number symmetry law, i.e. the former ordinal number petrochemical enterprises become bigger. If the decline petrochemical enterprise in this system is ranked even-number, after the adaptability and stability, the petrochemical enterprise will obey the odd - even number symmetry law, i.e. the former odd numbered petrochemical enterprise become bigger, but those former even numbered get smaller. We think that a petrochemical enterprise will continually develop and grow stronger in the petroleum competition, only if it seizes the petroleum shortage ratio and the occupancy of the biggest enterprise in the petroleum resource market, understands the even-odd or odd-even number symmetry law in the petroleum economical system and positions itself correctly.
Abstract: This article analyses the dynamics mechanism of international petrochemical enterprises vulnerability and select the key factor of resources to establish a nonlinear dynamical model, which discovering the internal binding relationship between the number of big petrochemical enterprises vulnerability, the petroleum shortage ratio (D) and the petrole...
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