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Energies
Article . 2023 . Peer-reviewed
License: CC BY
Data sources: Crossref
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Energies
Article . 2023
Data sources: DOAJ
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Oil Price—A Sensor for the Performance of Romanian Oil Manufacturing Companies

Authors: Adrian Neacsa; Jianu Daniel Muresan; Marian Catalin Voica; Otilia Manta; Mihail Vincentiu Ivan;

Oil Price—A Sensor for the Performance of Romanian Oil Manufacturing Companies

Abstract

This article presents the influence of the evolution of the oil price on the international markets on the strategies of companies whose main activity is the manufacture of oil equipment for the Romanian oil industry. As a tool for economists and specialists in the oil industry, such a study helps to develop economic strategies and management decisions based on forecasts of oil price developments. Based on statistical data for the annual oil price on international markets and the turnover of the oil companies, an analysis was proposed which showed that the trends in the mathematical models are similar, which highlights that economic activities in the oil sector are sensitive to the evolution of oil price. Management strategies are based on anticipating changes in the corporate environment, assessing the company’s internal potential and making the necessary changes to bring it in line with the economy, its mission, and the objectives set to ensure its survival and continuity. These views make it possible to analyse and forecast oil prices; upward trends will encourage companies to design and develop strategies that include investments to expand production capacity, and downward trends will synergistically lead to downsizing strategies. Variations in company production will generate an economic, social, and environmental impact in the countries where they operate.

Keywords

oil industry, Technology, energy transition, oil price, T, international markets

  • BIP!
    Impact byBIP!
    citations
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    4
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Average
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
4
Top 10%
Average
Average
gold