Pattern of Global Oil Trade Network: A Network Theory Approach

Document Type : Original Article

Authors

1 Associate professor in Economics, Department of Economics, Shiraz University

2 Postdoctoral researcher in Economics, Department of Economics, Shiraz University

Abstract

The increasing complexity of the global oil trade significantly affects the energy strategy and economic development of countries, particularly those that export oil, such as Iran. This paper analyzes the general characteristics, regional features, and strength of the oil trade using network theory for 178 countries in 2018. The results show that the oil export network has a free-scale distribution, which means that the commercial position of countries displays significant heterogeneity. Additionally, the global oil trade network has a "robust yet fragile" characteristic. The global oil trade network can be divided into three commercial blocks, including the central and eastern commercial block, the middle commercial block, and the western commercial block. Among these three commercial blocs, the central and eastern bloc can supply the highest amount of demand from the countries present in this bloc. Consequently, these countries receive the lowest oil supply impulses.

Keywords

References

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Journal of Econometric Modelling
Volume 8, Issue 2 - Serial Number 30
August 2023
Pages 121-162

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