FIR Gained Another TACR Project. Experts Will Examine the Effects of Falling Oil Prices on Producer Countries.

From 1 August 2020, a team composed of experts from the Jan Masaryk Center for International Studies and the Department of World Economy began solving an applied research project of the Technology Agency of the Czech Republic entitled Research on Impacts on the Producer States in the EU Neighborhood. This is another tender within the BETA2 call of the Technology Agency of the Czech Republic. The results of the project will serve the Ministry of Foreign Affairs of the Czech Republic.

The aim of the project:

The project will aim to identify the likely political, economic, or social impacts of oil market developments (or falling oil prices) on the economies of those countries around the EU that are dependent on exports of energy raw materials to the European continent.

Concerning the specific needs of Czech foreign policy, emphasis will be placed on key regions of the Middle East and North Africa (MENA), the Russian Federation, and Central Asia. A more detailed analysis will be performed for the Russian Federation and Azerbaijan, as the Czech Republic’s main partners in oil imports, whose (in) stability also has significant effects on the European continent.

In terms of time, tracked will be primarily the consequences of the fall in the price of oil in 2020, caused by two major forces: the price war between Russia and Saudi Arabia on the supply side and the sharp global economic decline caused by, among other things, the COVID-19 pandemic on the demand side.

Solution team: