Abstract

Technological advancements have significantly influenced the dynamics of oil price volatility in global energy markets. This paper, “Technological Advancements and Oil Price Volatility,” explores the complex interplay between technological innovations, market behaviors, and geopolitical factors that shape fluctuations in oil prices. The study begins by examining key technological developments, such as advancements in extraction techniques, automation in drilling and exploration, and the impact of digitalization on operational efficiencies. Furthermore, the paper investigates how these technological advancements have altered the supply-demand dynamics within the oil market, influencing production capacities, cost structures, and market competitiveness. The role of renewable energy technologies and their disruptive potential in mitigating oil price volatility is also analyzed, highlighting the growing intersection between traditional fossil fuels and clean energy solutions.