SARS Cov-2 and Oil Price: Poland in light of Geopolitical Consequences

• Authors: Pakhomov Dmitry

Title variants

PL

SARS Cov-2 i cena ropy: Polska w świetle konsekwencji geopolitycznych

• Languages of publication: EN

Abstracts

EN

This study developed a research problem, which centered on analyzing, assessing and forecasting oil prices in Poland regarding its current geopolitical status and the impact of the ongoing COVID-19 pandemic. The subject of the paper was to discuss any changes in the country’s oil regime, oil prices, causes and how they relate to the country’s geopolitical relations. The study made use of a research method in the form of a literature review on changes in the country’s oil regime and oil prices. Line charts, grouping, and bar charts were applied. Lower prices per barrel of oil were observed since early March 2020, i.e., at the start of the pandemic. 21st April 2020 recorded the lowest price per barrel, i.e., USD 9.12. The average price per barrel between March and June 2020 as USD 40. While Poland’s relations with Russia appear to be declining, Poland is a member of the European Union (EU); North Atlantic Treaty Organization (NATO); Organization for Economic Co-operation and Development (OECD); International Monetary Fund (IMF); World Trade Organization (WTO); World Bank; and European Bank for Reconstruction and Development. The implication of these memberships is that Poland is still in a position to forge other lasting relations with other oil suppliers at cost effective prices rather than sticking with Russia, which insist on maintaining a higher price.

PL

W badaniu tym opracowano problem badawczy, który koncentrował się na analizie, ocenie i prognozowaniu cen ropy naftowej w Polsce pod kątem jej aktualnego stanu geopolitycznego oraz wpływu trwającej pandemii COVID-19. Tematem artykułu było omówienie wszelkich zmian w reżimie naftowym kraju, cen ropy naftowej, przyczyn i jak odnoszą się one do stosunków geopolitycznych kraju. W badaniu wykorzystano metodę badawczą w postaci przeglądu literatury na temat zmian w reżimie naftowym kraju i cen ropy naftowej.

Keywords

EN

SARS Cov-2,; COVID-19,; Poland, Oil Prices,; Impact

PL

SARS Cov - 2,; COVID-19,; Polska,; Ceny ropy,; wpływ

• Publisher: Zachodniopomorska Szkoła Biznesu w Szczecinie
• Journal: Zeszyty Naukowe ZPSB Firma i Rynek
• Year: 2021
• Issue: 1(59)
• Pages: 19-26

Dates

published

2021-05-06

Contributors

author

Pakhomov Dmitry

• MSc in Global Management, graduate of Zachodniopomorska Szkoła Biznesu
• Steelconst LLC

References

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Notes

PL

Identifiers

ISSN

2657-3245