Abstract:

The purpose of the study is to examine the impact of politicians' and public servants' statements on changes in the oil price. In the research, the authors used the technique for time series study that combines the consistent application of fractal and regression analysis with the use of dummy variables. The study shows that various politicians' and public servants' statements (especially foreign ones) are a real tool for influencing the oil price. The results suggest that if the oil price declines during a period of time, it will soon start to increase and this process will take about 18 days. All factors, except the one that characterizes politicians' and public servants' statements, affect the oil price, and it decreases by 0.02 USD. The above mentioned statements lead to an increase in the oil price by an average of 10.04 USD.