Abstract:
In the aftermath of the analysis of oil prices, I analyse real crude oil price during 1968-2019 using a model which incorporates standard demand and supply factors, proxies for speculative activity, Middle East terroristic attacks crude-death-rate and Pandemics crude-death-rates. Hong Kong Flu (1968-1969) and Swine Flue (2009-2010) are the Pandemic events discussed. Generally I test which of the variables has the strongest correlation to crude oil prices over the time-frame. More specifically I address the correlation between oil prices and death tolls. Research results reinfore evidences for Middle East supremacy in global oil markets.
