Download This PaperThe Impact of COVID-19 on the World Oil Prices
9 Pages Posted: 24 Apr 2020
Date Written: April 23, 2020
Abstract
This paper tries to evaluate the impact of COVID-19 on the world oil prices from a multidimensional graphical perspective. The alternative multidimensional graphical is based on a new graphical method, the “Infinity Physical Space (I-Physical Space)”. The I-Physical Space can show the world oil prices from a multi-dimensional point of view in shorter or longer periods of time systematically. To analyze the behavior of world oil prices, we divided historical data from April 2019 to April 2020. In this study, the behavior of world oil prices have two categories, namely stable oil prices range and unstable oil prices range. The application of the I-Physical Space framework allows us to identify periods of world oil price volatility easily. Our findings indicate that the volatility of oil prices is heavily affected from any massive pandemic such as the case of COVID-19 anytime and anywhere.
Keywords: Oil prices, Econographicology, COVID-19, 3D visualization, database visualization, Multi-dimensional graphs
JEL Classification: B40
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