DINÂMICA DOS PREÇOS DO PETRÓLEO NA PANDEMIA DO CORONAVÍRUS (2020-2022)

Abstract

The COVID-19 crisis has had harmful effects on the international financial
market and global economic activity. One of the main components affected in the period
was oil prices, which were quoted below zero, for the first time in history. This study
aimed to assess the dynamics of the variation of oil prices during the years that
contemplate the pandemic, delimited from 2020 to 2022. It is argued that the pandemic
generated a relevant and persistent impact on oil prices, however according to the
relaxation of restrictive measures and the fall of the market's bad mood over fuel
consumption began to emerge, price dynamics returned to normal. It is argued that oil
prices have aggregated greater volatility during the COVID-19 crisis than in periods of
previous global financial crises. The results show that prices between 2020 and 2022 were
more penalized than during the 2008 crisis, generating greater insolvency and economic
implications.