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OPEC news and clean energy markets

Author

Listed:
  • Pham, Linh
  • Kenosi, One
  • Mashaba, Seneme
  • Petrosyan, Artur

Abstract

This paper analyzes the reactions of clean energy stock markets to OPEC's produc-tion decisions (cuts, boosts, agreements to maintain production (ATM), and failures to agree on production levels (FTA)) between 2007 and 2024. To this end, we apply the event study methodology combined with the Fama-French factor model. Our data sample includes the WilderHill Clean Energy Index (ECO) and the WilderHill Global Innovation Index (NEX), together with their 147 components. Our results show that the responses of clean energy stocks vary across the OPEC decisions and the nature of individual clean energy stocks. Our results are valid under a number of robustness tests. Finally, we discuss the implications of our findings for investors and policymakers.

Suggested Citation

  • Pham, Linh & Kenosi, One & Mashaba, Seneme & Petrosyan, Artur, 2026. "OPEC news and clean energy markets," Global Finance Journal, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:glofin:v:70:y:2026:i:c:s1044028326000268
    DOI: 10.1016/j.gfj.2026.101258
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    Keywords

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    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • G1 - Financial Economics - - General Financial Markets
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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