The dynamic network of the global oil and gas market and its trade spillovers

May 9, 2025Financial Economics فصلنامه اقتصاد مالیOpen Access

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Key Points

This study investigates the dynamic network of global oil and gas trade and its spillover effects over the past two decades.
Analyzed trade flows from 2000 to 2023 between oil-exporting and importing countries.
Examined the directional impacts of trade on regional markets, specifically focusing on Iran.
Assessed the contribution of unexpected factors to trade volatility in various regions.
Iran's crude oil trade acts as a shock transmitter to Middle Eastern countries.
Trade from regions including America and Asia Pacific significantly influences Iran, with varying impacts from different regions: USA (23%), Africa (27%), Western Europe (27.4%), Eastern Europe (27.7%), and Asia Pacific (32%).
High integration in Iran's oil trade network suggests prioritizing cooperative policies to enhance economic resilience against international trade shocks.

Examines trade spillovers in oil and gas markets, highlighting geopolitical impacts.

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rad et al. (2025) studied this question.

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