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Features and evolution of international crude oil trade relationships: A trading-based network analysis

2014; Elsevier BV; Volume: 74; Linguagem: Inglês

10.1016/j.energy.2014.06.095

1873-6785

Haizhong An, Weiqiong Zhong, Yurong Chen, Huajiao Li, Xiangyun Gao,

Sustainability and Ecological Systems Analysis

Traditional international trade theories have some limits in analyzing international crude oil trade as a system with numerous countries and complicated relationships. Complex network theory provides a method to analyze the world-wide trade system entirely and partly. Complex network models on direct relationships are fundamental analysis; we went further and established a new model based on indirect relationships. This paper established a trading-based network model of international crude oil to study the relationship between countries with common trade partners. There are two types of networks in our model: importing-based network and exporting-based network. We studied their evolution of scales, stability, hierarchy structure and partition over time. We found that the international crude oil trade is evolving into a stable, ordered and integrated system, and different types of events show different impacts on the importing and exporting countries, thus we provided different policy implications.