The Impact of Rising Oil Prices on Agricultural Products

Samuel Nicoara () and Daniel Manațe ()
Additional contact information
Samuel Nicoara: †Aurel Vlaicu†University of Arad, Faculty of Economics, Romania
Daniel Manațe: †Aurel Vlaicu†University of Arad, Faculty of Economics, Romania

Ovidius University Annals, Economic Sciences Series, 2022, vol. XXII, issue 1, 386-389

Abstract: Fluctuations in the price of oil have increased the cost of production all over the world, putting several industries in difficulty. One of the most important pillars of economy is agriculture, due to its crucial role and ability to grow food and sustain life. The purpose of this article is to observe the influence of the price of oil on the level of agricultural production in Romania. Using the Least Squares method was established the direct and positive influence of oil price over cereal production in Romania. The main conclusion reached by this article is the major impact that the price of oil has on agricultural products in Romania suggesting the importance of the policy that cap the price of oil and allowances to reduce the agricultural production cost

Keywords: price of oil; agricultural products; agriculture sector. (search for similar items in EconPapers)
JEL-codes: Q10 Q18 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/RO/2022-2/Section%203/28.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxii:y:2022:i:1:p:386-389

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().