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arXiv · 2101.00357

How do mobility restrictions and social distancing during COVID-19 affect the crude oil price?

Asim K. Dey·Kumer P. Das
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Abstract

We develop an air mobility index and use the newly developed Apple's driving trend index to evaluate the impact of COVID-19 on the crude oil price. We use quantile regression and stationary and non-stationary extreme value models to study the impact. We find that both the \textit{air mobility index} and \textit{driving trend index} significantly influence lower and upper quantiles as well as the median of the WTI crude oil price. The extreme value model suggests that an event like COVID-19 may push oil prices to a negative territory again as the air mobility decreases drastically during such pandemics.

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Asim K. Dey, Kumer P. Das. 2021-01-02. How do mobility restrictions and social distancing during COVID-19 affect the crude oil price?. https://arxiv.org/abs/2101.00357

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