Crude Oil - Science topic

Even though the effect of oil price shocks on macroeconomics has been extensively investigated, the literature on how efficiency in household energy use affect crude oil price volatility is yet explored. This study unveils whether household energy efficiency lower crude oil price volatility asymmetrically in the United States using the historical a...

Amid heightened geopolitical risk (GPR) shocks this study empirically investigates the dynamic interconnectedness among key commodities—namely crude oil, natural gas, and gold markets—to evaluate their potential resilience to unfolding crises, including the Russia-Ukraine conflict, Middle Eastern supply chain disruptions, the COVID-19 pandemic, and...

Improving the stability of the Explicit Finite - Difference method for solving the diffusion model-with Derivative Pricing as an example. It is also an illustration of a more general technique to get around very important limitations of Numerical methods - especially for ODEs and PDEs. Hence the technique and the result stands at the core of human...

This study investigates the determinants that drive the volatility of the credit default swaps (CDS) of BRICIT (Brazil, Russia, India, China, Indonesia, and Turkey) nations as a proxy measure for sovereign risk. On the existence of cointegration, an unrestricted error correction model integrated with the autoregressive distributed lag (ARDL) model...

Crude oil price forecasting contributes to global economic development. This study proposes a hybrid deep learning model for crude oil price forecasting. First, empirical wavelet transform decomposes raw data into multiple. Then, three neural networks generate preliminary forecasts, which are subsequently refined by a reinforcement learning-based e...

In newly formed soils with low humus content, high concentrations of heavy metals do not have a positive effect on the development of green vegetation. In soils contaminated with crude oil, oil refining waste and heavy metals, green vegetation is not observed regardless of the concentration of heavy metals. However, in soils rich in humus and free...

In this study, the ANSYS 2020R1 software simulation is employed to examine the diffusion process of oil leakage and the underground water solute transport law in the Dashagou Yellow River crossing section of the oil pipeline. The simulation results demonstrate that under identical leakage pressure conditions, diesel fuel leakage in powdery, sandy s...

The study investigated oil vandalism cost and economic growth in Nigeria from 1970-2022. The specific objective was to determine the economic implication of oil vandalism on the overall growth of the Nigerian economy, particularly the Niger Delta Region. The date required was obtained from the following sources: Nigerian Natural Resource Charter (N...

This study investigated the impact of macroeconomic indicators on the standard of living in Nigeria, using the Human Development Index (HDI) as the dependent variable, and Crude Oil Revue (COR), USD/NGN Exchange Rate (EXR), and Non-Oil Revenue (NOR) as independent variables. Time series data spanning from 1981 to 2022 as obtained from the Central B...

Accurate crude oil price forecasting is essential, considering oil’s critical role in the global economy. However, the crude oil market is significantly influenced by external, transient events, posing challenges in capturing price fluctuations’ complex dynamics and uncertainties. Traditional time series forecasting models, such as ARIMA and LSTM,...

The purpose of this study is to reveal the effect of oil prices and exchange rates on food prices in OECD countries. Food prices are usually determined by the exchange rate of the currency or either oil prices. Therefore, this paper questions the food price-exchange rate-oil prices trilemma by presenting empirical evidence from a panel of 38 OECD c...

The investigation of efficient biocarbon adsorbents for the separation of crude oil from water has garnered considerable attention from researchers. In this study, we successfully synthesized potassium-based-modified bio-adsorbents using K2C2O4, K2CO3, and KOH from date palm seed for oil–water separation. The influence of various parameters such as...

CO2 flooding disrupts asphaltene balance, causing deposition and reservoir damage. Most models lack core verification, resulting in inaccurate predictions of asphaltene deposition and reservoir performance. The Discrete Phase Model (DPM) of Volume model for characterizing asphaltene deposition during CO2 flooding was established by coupling Volume...

As hydraulic fracturing becomes increasingly prevalent in the oil and gas industry, there is a growing need to develop more cost-effective and sustainable technologies, particularly concerning the materials used. Proppants play a vital role in hydraulic fracturing by ensuring that fractures remain conductive and can withstand the pressure exerted b...

Crude oil pollution of soil is an important issue that has serious effects on both the environment and human health. Phytoremediation is a promising approach to cleaning up oil-contaminated soil. In order to facilitate phytoremediation effects for oil-contaminated soil, this study set up a pot experiment to explore the co-application potentiality o...

The Indian economy, marked by its rapid growth and increasing global integration, faces unique challenges amid the escalating geopolitical tensions between Israel and Iran. This paper explores the multifaceted implications of these tensions on India's economic resilience, particularly focusing on trade dynamics, energy security, and investment stra...

The aim of the study is to examined fertilizers obtained from poultry manure (PM), poultry manure biochar (PMB), inorganic fertilize (IF), poultry manure + poultry manure biochar (PM + PMB), poultry manure + inorganic fertilizer (PM + IF), poultry manure biochar + inorganic fertilizer (PMB + IF), poultry manure + poultry biochar + inorganic fertili...

As environmental awareness grows, hydrodesulfurization (HDS) catalysts have become crucial in petroleum refining, yet their use results in oil-laden waste, poses environmental risks, and complicates subsequent treatment. Efficient oil removal is thus critical for processing spent catalysts. This study systematically compares three de-oiling methods...

Volatile corrosion inhibitors (VCIs) are increasingly used in closed systems affected by atmospheric corrosion. In order to achieve a satisfactory level of protection, an inhibitor must be present in a sufficient concentration that should be determined experimentally. Electrochemical measurements are indispensable in corrosion studies examining the...

The dynamic interaction between crude oil prices and the prices of grains and oilseed is critical yet a complex issue in agriculture given the potential impact of the energy sector price fluctuations on production costs, transportation, and processing. This study explores the interactions between prices of crude oil, key grains, and oilseeds (maize...

Oil price is one of the most important economic factors directing the world economy. This is even more pronounced for the Nigerian economy that relies heavily on crude oil export revenues. A change in oil price is expected to impact on all her economic frontiers. Thus, the aim of this study is to investigate the effect of global oil price changes o...

This study explores correlations and risk spillovers, essential concepts for financial risk management, among commodities (crude oil, gold, and a global commodities index) and emerging stock markets. Using the Asymmetric Dynamic Conditional Correlation–Conditional Value-at-Risk (ADCC-CoVaR) model and a bootstrapped Kolmogorov–Smirnov (KS) test, we...

Elaeis oleifera oil has stood out for its high contents of carotenoids, tocochromanols, oleic and linoleic acids and low content of saturated fatty acids. The content of these bioactive compounds depends on the oil extraction process and the data available is related to solvent extraction. Pressing is the current industrial oil extraction process f...

The study aims to analyze the co-movement between oil prices, BRICS nations’ exchange rates, and stock markets. Grasping these interrelationships is essential for understanding how global energy price shifts broadly affect the economies, particularly those of developing nations.The study employs wavelet coherency analysis on daily data, examining t...

A modified autoregressive fractional integrated moving average MARFIMA (p, d, q) is presented in this study to describe time series data that are nonstationary and have a fractional difference value of 1<d<1.5. Data from ARFIMA simulations are used to assess the performance of the MARFIMA model. The autoregressive fractional integrated moving avera...

Miscible gas injection is the most widely applied enhanced oil recovery (EOR) method in light oil carbonate reservoirs as a tertiary and secondary method. Miscible gas has high displacement efficiency and usually results in a low residual oil saturation (Sorm) in the parts of the reservoirs that are in contact with the gas. Accurate determination o...

This comprehensive review examines chemical and nano-based methods for asphaltene inhibition in the oil industry, focusing on recent developments and challenges. Asphaltene precipitation and deposition remain significant challenges in oil production, affecting wellbore areas, equipment walls, and surface infrastructure. The review analyzes various...

This paper explores Ecuador's proposal to protect Block 43 of the Yasuní National Park from oil drilling through the Yasuní-ITT Initiative proposed in 2007. The paper will examine why the initiative failed and how community activists responded. Ultimately, it will argue that the Yasuní-ITT Initiative upheld environmental justice through its asserti...

China's rapid industrialization and urban growth have driven its electricity consumption to unprecedented levels, with projections indicating an annual demand of approximately 10,000 terawatt-hours (TWh) or 10 petawatt-hours (PWh). This paper presents a comprehensive numerical analysis of China's energy consumption by quantifying the equivalent ene...

In popular Baba-Engle-Kraft-Kroner (BEKK) and dynamic conditional correlation (DCC) multivariate generalized autoregressive conditional heteroskedasticity models, the large number of parameters and the requirement of positive definiteness of the covariance and correlation matrices pose some difficulties during the estimation process. To avoid these...

In a world where environmental and energy issues are receiving increasing attention, understanding the interactions between global oil price volatility, fuel imports, and CO2 emissions is essential, particularly for fuel-importing nations like Morocco, which has not had active refining companies since 2015. In this study, we use daily OHLC (Open, h...

Identifying oil migration through tectonic fractures in stable cratons is always challenging due to limited technical approaches. Here, we provide a case study showing that combined geochemical and geological analyses are a robust tool for identifying oil vertical migration through tectonic fractures. The core samples and crude oils from the Mesozo...

Shale oil reservoirs feature a considerable number of nanopores and complex minerals, and the impact of nano-pore confinement and pore types frequently poses challenges to the efficient development of shale oil. For shale oil reservoirs, CO2 flooding can effectively lower crude oil viscosity, enhance reservoir physical properties, and thereby incre...

This article examines the impact of WTI crude oil prices on nine city indices traded on the BIST, using daily data from 2014 to 2024. The study employs unit root tests, cointegration analysis, and FMOLS estimation to investigate the long-term relationship between oil prices and city indices. The results indicate that oil prices and city indices exh...

Due to the high viscosity and low fluidity of viscous crude oil, how to effectively recover spilled crude oil is still a major global challenge. Although solar thermal absorbers have made significant progress in accelerating oil recovery, its practical application is largely restricted by the variability of solar radiation intensity, which is influ...

During the shutdown of buried pipelines carrying hot waxy-rich crude oil, the temperature is likely to drop below the pour point due to heat loss to the surrounding soil environment. This drop can lead to gelation incidents, resulting in significant economic losses. Therefore, in this study, fast prediction models for coupled oil and environment te...

The structural analysis of a very large crude carrier (VLCC) is an important area of study in naval Architecture and marine engineering. VLCCs are very large vessels used for transporting crude oil, and they are subjected to various loads and stresses during operations, including wave loads, cargo loads, environment loads, and currents. As a result...

This paper proposes a Sequential Monte Carlo approach for the Bayesian estimation of mixed causal and noncausal models. Unlike previous Bayesian estimation methods developed for these models, Sequential Monte Carlo offers extensive parallelization opportunities, significantly reducing estimation time and mitigating the risk of becoming trapped in l...

Oil spills (OS) in waters can have major consequences for the ecosystem and adjacent natural resources. Therefore, recognizing the OS spread pattern is crucial for supporting decision-making in disaster management. On 31 March 2018, an OS occurred in Balikpapan Bay, Indonesia, due to a ship’s anchor rupturing a seafloor crude oil petroleum pipe. Th...

This study investigates the behavior of heavy oil reservoirs under varying oil saturation conditions through laboratory-scale in situ combustion (ISC) physical simulation experiments. The research focuses on the propagation stability of the combustion front and key parameters influencing the in situ combustion process, with a systematic examination...

To explore the time-varying mechanism of how oil viscosity and water content influence the flow characteristics in crossing pipelines, a three-dimensional finite element model was developed using advanced large-scale finite element simulation software with an integrated fluid dynamics module. The simulation results were analyzed under varying visco...

In situ combustion, as a technology for improving oil recovery efficiency, faces technical and economic challenges. Fire-driven oil recovery technology is renowned for its significant technical advantages, including wide reservoir applicability, efficient crude oil recovery rate, and lower extraction costs. It is particularly suitable for the recov...

The Niger Delta region of Nigeria is a major oil-producing area which experiences frequent oil spills that severely impacts the local environment and communities. Effective environmental monitoring and management remain inadequate in this area due to negligence, slow response times following oil spills, and difficulties regarding access and safety....

In assessing the impact of the global scramble for natural resources, especially in the Global South, we must not simply consider the economic displacement but also the spiritual well-being of Indigenous peoples. The Niger Delta refers to the geographical enclave into which the River Niger empties its waters. According to Ikelegbe and Umukoro (2016...

The current rapid development of the oil industry is marked by increased oil exploration throughout the world, including Indonesia. The oil industry, or what is more familiarly known as the petroleum industry, has produced various kinds of fuel oil, which is initially still in the form of crude oil and then processed to become types of oil that hav...

Many crude oils are mixtures of two or more end members, resulting either from mixing of liquids and gases in the reservoir, or from mixing of organic facies in the source. Frequently, the end members of these mixtures are not available, or cannot be recognised, which makes elucidating the accumulation histories of fluids inherently difficult. Here...

Green, efficient treatment of crude oil spills and oil pollutants is a global challenge, with adsorption technology favored for its efficiency and low environmental impact. The development of an environmentally friendly adsorbent with high hydrophobicity, excellent adsorption performance, and degradability is crucial to overcoming the limitations o...

This study develops a robust Monte Carlo simulation-based model to price Asian call options in the context of crude oil futures, addressing their path-dependent nature and complex payoff structures. The model is enhanced using variance reduction techniques, specifically antithetic variates and control variates, to improve accuracy and computational...

With the Paris Olympics happening, the economy has been in the spotlight. The boost of the economy because of this feast resulted in the future price of oil. It is also worth knowing that the Olympic Committee promotes the use of green energy and the protection of the environment, but with this comes a reduction in the use of oil for manufacturing...

This study develops a comprehensive model for determining Asian call option prices on crude oil futures, employing Monte Carlo simulation and regression analysis. The primary objective is to accurately capture the path-dependent nature of Asian options, which differ from standard possibilities by relying on the average of the underlying asset price...

This paper examines how legal structures in Saudi Arabia have changed to diversify the economy. In this regard, the focus is on developing the tourism sector through the Red Sea Project. Traditionally, the Saudi economy was largely dependent on oil exports, thus prone to volatile markets and inadequate crude oil reserves. However, the instability i...

Shale oil, a critical unconventional energy resource, has received substantial attention in recent years. However, systematic research on developing shale oil using mixed gases remains limited, and the effects of various gas compositions on crude oil and rock properties, along with their potential for enhanced oil recovery, are not yet fully unders...

This study delves into a comprehensive time series analysis of the monthly production of crude oil, in Nigeria, a critical component of the country’s economy and a significant player in the global oil market. Understanding patterns, trends, and dynamics of crude oil production is essential for policymakers, industry stakeholders, and researchers to...

Coconut oil is eatable oil with many nutritional and cosmetic applications. In this investigation coconut oil was subjected to 0 to 5 L/min of ozone for 3 h and the chemical composition of both crude and ozonized oil was valued via Gas Chromatography-Mass Spectrometry (GC–MS). Some biological tests were done including antibacterial action versus He...

The development of China’s National Carbon Market has strengthened the inherent link between the carbon market and the broader energy market, providing a potential for cross-market risk transmission resonance. Studying the risk spillover effects between China’s National Carbon Market and the crude oil futures market is of significant practical impo...

The extraction and utilization of crude oil are fundamental to global energy production, driving economies and fueling countless industries. However, wax deposition in pipelines and equipment creates several challenges, causing issues during the production, transportation, and refining of waxy crude oil. On the other hand, conventional chemicals su...

The bioremediation method is considered an economical and environmentally friendly strategy for the remediation of oil-contaminated soils. However, some oil field areas have extreme environmental conditions that make it difficult to establish microbes for bioreme-diation. In this study, bacteria were isolated from oil-contaminated soils of the Dehl...

The fracture-cavity carbonate reservoir in Tahe oilfield is buried deep (more than 5000 m). The reservoir has low permeability, strong heterogeneity, large size, diverse forms of connectivity, and complex spatial distribution. In conventional water flooding, it is difficult to improve oil recovery effectively because of small water flood sweep and...

World demand for wood products and the shortage of good quality lumber species are exerting pressure on native forests. This study aimed to evaluate the efficiency of Eremanthus erythropappus crude oil in improving the resistance of Pinus taeda wood to Rhodonia (≈Postia) placenta, Gloeophyllum trabeum, Neolentinus lepideus (brown rot) and Pycnoporu...

Purpose-The purpose of this paper is to investigate how the rising domestic food price inflation in India is influenced by global macroeconomic factors like crude oil, exchange rate, foreign aid, global food prices and trade openness from January 1993 to December 2022. Design/methodology/approach-The study has employed the structural break, autoreg...

Asphaltenes' solubility in crude oils is frequently affected by temperature, pressure, and oil composition changes. This could lead to the precipitation and deposition of asphaltene in various parts of the total production system, which would cause a significant economic impact. Predicting the conditions of asphaltene precipitation will be very use...

The upstream sector of the petroleum industry in Nigeria is replete with gross environmental degradation and neglect since the commencement of commercial exploration of crude oil in Oloibiri in 1959. This study undertakes a review of the upstream sector, discusses the regime of land pollution and resource abandonment and identifies and appraises im...

Energy demand will increase due to the increasing population, improved standard of living, and rising artificial intelligence applications. The existing energy sources may not be sufficient, and we need multiple sources of energy in the near future to meet the increased demand. The oil & gas energy sector will face several challenges such as strict...

The study examined Nigeria's macroeconomic determinants of exchange rate dynamics over thirty-seven years, from 1986 to 2022. The major data sources are the Central Bank of Nigeria Statistical Bulletin, the Nigerian Bureau of Statistics, World Bank Development Indicator, the Organization of Petroleum Exporting Countries, the U.S Federal Reserve Ban...

The formation of crude oil prices and their impact on diesel prices represent a significant economic challenge. The economy’s dependence on energy resources means that the development and competitiveness of the economy, as well as the standard of living of society, are contingent upon energy prices, including those of liquid fuels. It is therefore...