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Investigating the effect of Iran oil sanctions on the oil market return correlation network
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Samaneh Bagheri *   |
| yazd university |
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Abstract: (808 Views) |
As an oil exporter and an important member of OPEC and an oil-dependent economy, Iran is also essential to the Iranian oil embargo and its impact on oil markets. The purpose of this study is to investigate Iranian oil on the oil market correlation network. The period of this research is 1-1991 to 12-2019 AD with a complex network method. According to the results of this complex network, the correlation between the Iranian oil market and other oil markets has decreased after the sanction on Iranian oil. In the complex network before the sanctions against Iran, the most weighted Degree related to the Libya oil market and the Indonesian oil market will have the lowest Weighted Degree. In the post-Iranian oil market volatility correlation network, the largest amount of weighted debt is related to the Indonesian oil market. The lowest amount of Weighted Degree is related to the Algeria oil market. There is a correlation between the volatility of returns for the Iranian oil market in the network after the Iranian oil sanction and the network before the Iranian oil sanction. before sanction Iranian oil, the Iranian oil market is most correlated with the Russia and UAE oil markets. After the sanction on Iranian oil, the most correlation between the Iranian oil market and the oil market of Oman and Russia.
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Article number: 7 |
| Keywords: complex network, oil market, Iran oil sanction, Pearson correlation test, HEATMAP |
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Type of Study: Research |
Subject:
Special
Received: 2022/12/30 | Accepted: 2023/02/21 | Published: 2023/02/21
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