August 5, 2025EnergiesOpen Access

Macroeconomic Effects of Oil Price Shocks in the Context of Geopolitical Events: Evidence from Selected European Countries

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Vulnerability to unpredictable oil price shocks is greater during geopolitical tensions than expected gradual changes.
The research utilizes the Structural Vector Autoregressive model to analyze data from Norway, Germany, and Poland.
Findings indicate that economies are less resilient to oil price shocks during geopolitical conflicts compared to prior periods.
Countries prioritizing reduced oil dependency show improved capability to handle adverse effects of price shocks.

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Analysis uncovers effects of oil price changes on GDP in European countries, highlighting vulnerabilities amid geopolitical events.

Piłatowska et al. (2025) studied this question.

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