Oil Consumption Research Articles

Performance and Emissions Characteristics of Vehicle Fuelled with Blended Palm Biodiesel Before and After Engine Overhaul

Rapid industrialization and growth in population have resulted in a rapid increase in energy demand. Pollutant emissions from diesel engines have caused major impacts in disturbing the ecological system. The Malaysian government implemented the B10 biodiesel program for the transportation sector and B7 for the industrial sector in 2019 to drive the demand for palm oil and increase the sustainability of energy resources. For future implementation, the government is looking toward for higher percentage of blended biodiesel, such as B30 and above. This paper presented the effect of engine overhaul on the performance and emissions of a vehicle fuelled with blended biodiesel (B10, B20 & B30) by comparing before and after the engine overhaul. By using a vehicle Toyota Hilux 2.5L, the vehicle was attached to a chassis dynamometer for determining its performance such as brake power and brake specific fuel consumption (BSFC) at 45% and 90% of Acceleration Pedal Position (APP), respectively. The exhaust gas emissions were measured using a 5-channel analyser for determining the carbon dioxide (CO2), carbon monoxide (CO) and nitrogen oxide (NOx). The experiment was conducted in a steady-state condition with a constant speed of 30, 60, 90, and 110 km/h simulating rural, urban, and motorway speeds. The performance results revealed that blended biodiesel B10, B20 and B30, produced higher brake power, and lower brake-specific fuel consumption after engine overhaul. Emissions results showed that CO was increased at 45% APP but decreased at a higher 90% APP, and in most cases, NOx and CO2 emissions were decreased with an increase in speed for both APP.

Trade Competitiveness and Sustainability Policies of Malaysian Palm Oil in the European Union: Strategic Responses by Stakeholders Agencies

The Malaysian palm oil industry is a significant contributor towards national development and economic growth. However, the industry has been facing rising tension to ensure sustainable development, as global demand for palm oil continue to grow in the coming years. The necessity for producing and trading sustainably produced palm oil is amplified with the European Union’s stringent requirement for importing responsibly sourced commodities into its market, with the aim to achieve climateneutral by 2050. The palm oil industry is also inundated with anti-palm oil campaigns and agendas, which emphasize allegations of unsustainable agricultural practices as large-scale plantations damage the natural ecosystem in producing countries. Collectively, these challenges could pose a formidable impact on the trade of palm oil between Malaysia and the European Union. Therefore, the article seeks to examine the strategic responses undertaken by Malaysian stakeholder agencies to address the regulations pertaining to sustainable production of palm oil. Using a qualitative approach, a total of ten sessions of in-depth interviews were held with expert informants in stakeholder agencies, both in Malaysia and the European Union. Among the key findings were the formulation and implementation of the National Agricommodity Policy, deployment of various missions to the European Union, implementation of Malaysian Sustainable Palm Oil (MSPO) certification as the national sustainability scheme, dissemination of accurate information on sustainable and certified palm oil, and continuous engagement through bilateral and multilateral platforms. Based on the findings, this study suggests that inclusive and transparent engagement must be conducted continuously. Constantly held dialogue sessions will help to promote better understanding and fruitful collaboration among stakeholder agencies in Malaysia and the European Union to balance environmental concerns with trade interests.

Dampak Guncangan Harga Minyak Dunia Terhadap Dinamika Inflasi di Indonesia

This study aims to identify and analyze the impact of world oil price shocks on inflation dynamics in Indonesia. This research is a quantitative research using secondary data with quarterly data from 1993-2022. The analysis used is descriptive analysis and inductive analysis. In inductive analysis there are several tests, namely: Vector Auto Regression (VAR) Analysis, Empirical Models Vector Auto Regression (VAR) Analysis, Vector Auto Regression (VAR) Analysis Steps such as: Stationarity Test, Cointegration Test, Optimum Lag, Model Stability Test, Impulse Response Function (IRF), Variance Decomposition. The results of this study indicate that (1) world oil prices have a significant influence on the dynamics of inflation in Indonesia. This means that world oil prices can affect the dynamics of inflation in Indonesia, especially in the short term. (2) Shocks to world oil prices also have an impact on aggregate demand and supply of world oil which then affect the dynamics of the national macro economy which in turn will cause changes in the inflation rate in Indonesia

Identification of shale gas existence based on 2-dimensional magnetotelluric data in the Kutai basin, East Kalimantan, Indonesia

Research on unconventional methods in the shale gas exploration process has begun to be developed to meet the demand for oil and natural gas sustainability. The research area is located in the Kutai Basin, East Kalimantan, Indonesia. The current study from the Geological Survey Center shows that the Kutai Basin has 46.79 TCF of shale gas potential. The magnetotelluric (MT) method was applied in this study to describe the distribution of subsurface resistivity values. The inversion schemes performed in the MT method are 1-dimensional and 2-dimensional inversions. In this study, there are 8 measurement stations in one line. The presence of low resistivity values or conductive zones identifies the potential for black shale layers. The potential for shale gas is suspected to be detected at station KT29, which is included in the Pamaluan Formation, and at stations KT12, KT31, KT13, and KT15, which are included in the Pulaubalang Formation, because it is associated with source rock from petroleum in the Kutai Basin system, as supported by previous research data.

The sustainable prospect of biodiesel production: Transformative technologies, catalysts from bio-wastes, and techno-economic assessment

Energy is the most significant factor influencing a nation’s economic success, social advancement, and human welfare. The increasing demand for oil and other forms of energy has fuelled the need for sustainable alternative energy sources. In this context, energy-providing biofuel materials are widely considered a sustainable alternative. Biodiesel, among other biofuel materials, is currently recognized as a valuable resource for the transportation sector on a global scale. To fulfill the growing demand for biodiesel and to ensure sustainability, the biodiesel synthesis process must be expedited. Therefore, reviewing and upgrading the technological strategies for biodiesel production is vital. The current review paper summarizes recent technological advancements in the biodiesel production process and the process parameters that influence the biodiesel production yield. Also, the significance of eco-friendly biocatalysts derived from waste biomass and waste metals for enhancing biodiesel yield has been highlighted. Furthermore, a techno-economic analysis and life cycle evaluation of different biodiesels are reviewed to examine their economic viability and environmental sustainability when produced using bio-derived catalysts. Overall, it is recognized from recent improvements in biodiesel synthesis that the processes that use catalysts generated from waste sources might considerably facilitate the transition to a more sustainable and economical biodiesel production.

Review of the policies and development programs for renewable energy in Malaysia: Progress, achievements and challenges

In 2022, Malaysia was ranked 28th worldwide in terms of its energy oil consumption. Energy consumption in Malaysia has been predominantly reliant on natural gas and coal in both the past and present. Oil and gas in Malaysia are predicted to be depleted in 14 years due to the high energy consumption, especially from petroleum sources. Thus, the Malaysian government aims to expand renewable energy (RE) in the country's energy mix as an alternative source of energy. As of 2022, Malaysia has generated roughly 2% of its electricity from various renewable sources, which is still far from the initial target of reaching 20% RE penetration by 2030. However, since 2017, RE has started to contribute to energy mix generation. Several policies, including an act, have been implemented in Malaysia to achieve the target in RE, but many challenges and difficulties have hindered the progress. Thus, the present study explored the current status and challenges for RE in Malaysia and discussed the effectiveness of the available energy policies and programs. The outcomes are potentially valuable to Malaysian policymakers, industries and researchers to improve their current practices for achieving the initial national RE target by 2030 as well as to move forward towards net zero emissions by 2050. This study provides a crucial roadmap for Malaysia to achieve its RE objectives and contribute significantly to the international transition towards a more environmentally friendly and sustainable future.

Abstract 1213 Long term supplementation of Deep-fried oil consumption impairs oxidative stress, colon histology and increases neurodegeneration

Abstract 1213 Long term supplementation of Deep-fried oil consumption impairs oxidative stress, colon histology and increases neurodegeneration

New growth of the Douro wine cluster

Purpose This study aims to further develop the CLC stage/path’s identification model that distinguishes between path’s emergence (emergence stage), path’s development (growth stage), path’s sustainment (maturity stage), path’s decline (decline stage) and path’s transformation (renewal stage), and by applying it, define the current stage/path of the Demarcated Douro Region (DDR) cluster. The Port wine industry, which is the dominant industry of the DDR cluster, is at the maturity/decline stage – is the same for the cluster itself? Design/methodology/approach It is a case study with a longitudinal perspective based on the analysis of the dynamics of the parameters of cluster evolution using available secondary sources (cluster identity/brand; number of firms; number of employees; network; innovation; policies and regulations; and external markets – exports), especially addressing the past decade, that represent the stage of maturity/decline of the cluster’s dominant Port wine industry. Findings The conclusion is that since the 1990s the Demarcated Douro Region has gone through a “path transformation” where during the following 20 years new “anchors” for the cluster were gradually introduced, such as Doc Douro Wines, new forms of consumption of Port wine, tourism and olive oil. Since 2010 the cluster has entered a growth stage/(new) path’s development, where these “anchors” are in steady growth. The Douro brand is becoming more internationally recognized and established, the number of firms and employees is increasing, the network is restructuring with the creation of cluster-specific official institutions, innovation is especially reflected with increasing heterogeneity through diversification of the clusters into new activities and regulations and policies are supportive for expansion – all these parameters are indicating the rise of the new cycle for the cluster. Thus, the DDR cluster represents an attractive business environment and requires attention from regional policymakers to support the cluster’s development. Especially institutions have been highlighted as internal factors driving clusters growth, European integration as an external factor and firms’ strategies of diversification and internationalization as an appropriate de-locking mechanism for new path’s development. Research limitations/implications This research contributes to the CLC theory by further developing and applying a CLC stage/path identification model. It provides a better understanding of the dynamics of the DDR cluster that diverge from its dominant industry life cycle, which is relevant for regional policies and firms’ strategies. This study has its limitations. It provides an exploratory application of the theoretical framework proposed, and consequently, no general conclusions are possible yet. More empirical studies with different clusters in different stages are necessary to test the framework. Practical implications These findings are useful to policymakers when designing their policies for cluster development but also for clusters’ entities and actors when making their strategic decisions as it allows based on the verification of the established parameter of CLC to identify its current stage/path of development. Originality/value The paper presents a theoretically grounded model for CLC identification and for the first time to the best of the authors’ knowledge applies it to a cluster case – the DDR cluster. This case applies the proposed model and illustrates its usefulness. The model provides the tools for a better understanding of cluster dynamics.

Artificial maturation of a Silurian hydrocarbon source rock: Effect of sample grain size and pyrolysis heating rate on oil generation and expulsion efficiency

Although artificial maturation of hydrocarbon source rocks by laboratory pyrolysis is far from representing natural maturation, it is a useful tool to investigate the process. In this study, we used routine open system pyrolysis for powder samples and Restricted System anhydrous Pyrolysis (RSP) for cm-sized Silurian shale source rock fragments to artificially mature the samples to different end-temperatures in the presence of a flowing carrier gas. Maturation experiments on rock fragments enable the simulation of physical barriers for the generated hydrocarbons that need to be overcome before expulsion from the source rock can occur. Based on the artificial maturation results in this study, oil expulsion efficiency from the Silurian shale source rock was 46% at the early oil generation stage and increased to 74% at approximately the peak oil generation stage.Furthermore, we have compared artificial maturation results from powder-form and fragment-form samples with natural-maturation series and found that artificial maturation of fragment-form samples sufficiently resembles natural maturation of the Silurian shales. It is therefore possible to simulate the early, middle and peak oil generation stages of natural maturation and expulsion efficiencies. This implies that, lab-based oil expulsion efficiencies from increasing maturity and hydrocarbon generation can be incorporated into the basin modeling.

Partial replacement of saturated fats in liver pâté by an olive oil-in-water emulsion containing β-glucan shows no compromise in sensory and storage oxidation of lipids and protein.

The consumption of olive oil has been shown to have a positive effect on preventing obesity and hypertension. At the same time, it is recommended to avoid processed meat products as they contain saturated fats. The inclusion of highly unsaturated lipids in food products can lead to rapid oxidation and deterioration of sensory characteristics. The objective of the current work was to encapsulate olive oil and incorporate it into traditional Polish liver pâté. The oil-in-water emulsions were formulated with varying levels of oat β-glucan and were evaluated for droplet size, pH, encapsulation efficiency and rheology. The liver pâtés made using the emulsions with and without β-glucan were then evaluated for pH, texture, colour, lipid and protein oxidation, thermal stability and sensory properties. The results showed that the oil-in-water emulsions had a 100% encapsulation rate of olive oil after 30 days of storage at 4 °C, regardless of the presence of β-glucan. Although the texture of the emulsion-enriched liver pâté was different from that of the control, this difference was reduced when β-glucan was added to the emulsion and then to the pâté matrix. Replacing 50% of animal fat with an olive oil emulsion enriched with β-glucan did not result in any compromise of sensory properties, increase lipid or protein oxidation. These results suggest that it is possible to replace saturated lipids with omega-3-rich olive oil. © 2024 Society of Chemical Industry.

A comparative study on biodiesel production from edible and non-edible biomasses

Biodiesel is a renewable and environmentally friendly alternative to traditional diesel fuel. It can be produced from various sources, primarily through homogeneously alkali-catalyzed transesterification. However, with the increasing demand for edible oils and the ongoing concerns about using edible resources for fuel, non-edible oils have become more attractive for biodiesel production. Non-edible oils, such as those derived from waste oils, offer a more sustainable and environmentally friendly source for biodiesel production. The current study compares biodiesel samples’ properties derived from an uncooked sunflower oil sample provided by a local bio-industry and four waste cooking oil samples collected from a local restaurant and fast food shop. The findings indicated that most biodiesel properties from edible and non-edible biomass feedstocks were found to be similar and met the specifications outlined in the EN 14,214 standard. Nevertheless, the oxidation stability and the viscosity were found to be outside the specified limits in most of the samples. Additionally, GC–MS analysis exhibited a similar composition of fatty acid methyl esters (FAMEs), with a high proportion of unsaturated FAMEs in all biodiesel samples.

Quality parameters and lipid composition of oil extracted from spent coffee grounds: A promising alternative to vegetable oils used for consumption and cosmetic purposes

AbstractCoffee grounds are the most commonly generated daily waste in the world, raising numerous questions regarding their proper management and their environmental impact. The present study focuses on the physical and chemical characterization of oil extracted from spent coffee grounds (SCG), with the aim of valorizing this by‐product as a potential source for oil production. The results obtained from the analysis of SCG oil were also compared to those of some edible oils (soybean, corn, and sunflower oils) and cosmetic oils (lentisc, sweet almond, and castor oils). The results revealed that spent coffee waste yielded an important amount of oil, specifically 17.19%, as compared to corn (4.31%) and soybean (19.52%) seeds. Regarding the fatty acids composition of SCG oil, eight components were identified, with a high percentage of polyunsaturated fatty acids accounting for more than 45% of total fatty acids. The phytosterols composition of SCG oil revealed the presence of seven components, with β‐sitosterol being the predominant one. The tocopherol analysis showed that SCG oil contained only α and β isomers, with β‐tocopherol being the dominant form at over 68%. These findings accentuate the potential of spent coffee waste as a promising alternative for oil production and open up new applications for SCG oil, such as in the food industry, pharmaceutical applications, and cosmetics.Practical Application: Given the significant increase in the demand for vegetable oils, the oil industry has recently begun to explore new plant matrices, particularly those having low costs. SCG are the most commonly generated daily by‐product in the world. The present investigation aims to characterize and valorize the oil extracted from SCG. The obtained results revealed the potential of SCG as a promising alternative for oil production. Consequently, valorizing spent coffee waste as a natural by‐product for oil production can be an ideal solution to address numerous issues related to its proper management and its environmental impact. Hence, the oil industry can promote spent coffee waste, cheapest by‐products, as a promising alternative for oil production. Moreover, the present investigation represents a commendable model of the circular economy since the remaining waste obtained after extracting lipids from the coffee grounds waste can be used as natural fertilizer rich in protein for plant development.

Deep Learning-Based Carbon Emission Forecasting and Peak Carbon Pathways in China’s Logistics Industry

As a major energy-consuming industry, energy conservation and emission reduction in the logistics industry are critical to China’s timely achievement of its dual-carbon goals of “carbon peaking” by 2030 and “carbon neutrality” by 2060. Based on deep learning, Random Forest (RF) was used to screen out the key factors affecting carbon emissions in the logistics industry, and the Whale Algorithm-optimized Radial Basis Function Neural Network (WOA-RBF) was proposed. The Monte Carlo simulation predicted the future evolution trends of each key factor under the three scenarios of baseline scenario (BAU), policy regulation scenario (PR), and technological breakthrough scenario (TB) and accurately predicted the carbon emission trends of the logistics industry from 2023 to 2035 by using the most probable future values of each influencing factor as inputs to the WOA-RBF prediction model. The results of the study demonstrate that fixed asset investment (LFI), population (P), total energy consumption (E), energy consumption per unit of value added of the logistics industry (EIL), share of oil consumption (OR), and share of railway freight turnover (RTR) are the key factors influencing the logistics industry’s carbon emissions. Monte Carlo simulations can effectively reflect the uncertainty of future changes in these key factors. In comparison to the BAU and PR scenarios, the TB scenario, with the combined incentives of national policy regulation and technology innovation, is the most likely for the logistics industry to meet the “Peak Carbon” goal baseline scenario.

Spleen and Pancreatic Tissue Change after Genetically Modified Soybean Oil Consumption Among Male Wistar Rats

<strong data-sider-select-id="b8bf10e1-996e-4fe0-a16e-f65aaaaf6a6c">Background: Over the past 20 years, the increased consumption of transgenic products for humans and animals led to the conduction of nutritional studies in this regard. However, these studies were limited, and they did not find a definitive answer to the possible health hazards of transgenic products. Therefore, this study was designed to evaluate the effects of a diet containing transgenic soybean oil on rats. <strong data-sider-select-id="0d24514e-9731-4303-8701-71ae0f71f52c">Methods: Accordingly, male Wistar rats (N=6/group) were given a nutritionally moderate purified diet with 10% genetically modified soybean oil for 90 days. Two control groups receiving nongenetically modified soybean oil and a standardized diet were also enrolled. One-way analysis of variance (ANOVA) followed by Tuky post hoc analysis was used to compare the values between groups and to detect the effects of transgenic soybean oil. <strong data-sider-select-id="6e6a93c9-227f-45c1-a050-9f3b96ecc42d">Results: Rats fed on transgenic soybean oil demonstrated several histologic changes in pancreas tissues, including changes in severe congestion, the presence of inflammatory cells, and changes in the Langerhans islands. However, no changes were observed in the spleen, except for negligible congestion in all treatment groups. Regarding blood indicators, hemoglobin levels in the transgenic soybean oil group decreased compared to the other two groups (P<0.05). <strong data-sider-select-id="103c4ab9-7a19-4a38-8077-e5b11eb6caee">Conclusion: According to our results, a 90-day treatment with transgenic soy-based oil caused significant organ changes in the pancreas tissue of rats. Further studies evaluating the long-term effects are also needed to better elucidate these effects.

Maximizing Revenue Generation Through Effective Tax Policies for Sustainable Economic Development in Nigeria; A Conceptual Review

This paper focused on the imperative of maximizing revenue generation in Nigeria through the implementation of effective tax policies. In a nation characterized by diverse economic sectors and challenges such as tax evasion and a significant informal economy, the need for strategic fiscal policies is paramount. This paper explores the multifaceted approach to effective taxation, including broadening the tax base, simplifying the tax system, and utilizing technology for efficient tax collection. Drawing on progressive taxation, incentives for strategic sectors and ensuring transparency, the paper advocates for policies that not only increase revenue but also promote economic stability and social equity. The importance of reducing dependence on oil revenue, enhancing compliance, and encouraging investments is highlighted. In conclusion, it stresses that effective tax policies are integral to Nigeria's economic stability, providing funding for critical sectors such as education and healthcare. The paper emphasizes the significance of these policies in reducing income inequality, fostering entrepreneurship, and creating a conducive environment for business growth. As a recommendation, the paper suggests that policymakers prioritize the implementation of these strategies, invest in modern tax administration technologies, and foster collaboration between government agencies and the private sector. These measures can pave the way for a financially robust Nigeria, ensuring sustainable development and an improved quality of life for its citizens.

The Macroeconomic Effect of Oil Sector Crisis in Libya

This paper analyses and investigates the impact of the oil sector crisis on the Libyan economy from 2012 Q4 to 2022 Q3, using the Bai-Perron model and a structural vector autoregressive model (SVAR). The findings demonstrate that the multiple structural breaks test statistics approved that nearly all of the study's variables had a structural break at years around political division and political agreement. In contrast to inflation, the results of the impulse response functions (IRFs) indicate that the shock to oil revenue had a considerable negative impact on the money supply and exchange rate. Furthermore, the study reveals that, with the exception of claims on the government with the central bank, shocks to oil revenue are the major contributors to variance decomposition for all variables. The results reveal that oil revenue, in particular, accounts for roughly 16%, 13%, and 16% of the variance decomposition of the money supply, exchange rate, and inflation rate, respectively. As a result, the oil sector crisis is a controlling factor in the explanation of variations in these variables. The study concluded that oil sector revenues have a sensitive impact on the Libyan economy and that the latter has a strong tide with a secure environment and political stability.

Sovereign Wealth Funds and Nigeria’s Economy (2012–2021)

This study examined how Nigeria’s sovereign wealth funds has related to the economy: 2012-2021. The sovereign wealth fund is designed to build a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure, and providing stabilization support in times of economic stress, somehow stabilizing the local currency value. It seems that the sovereign wealth funds of Nigeria is not yet growing sustainably. Thus, this work seeks to ascertain how the sovereign wealth fund has related to economic growth of Nigeria. The study made use of secondary data sourced from the Central Bank of Nigeria and the Nigerian Sovereign Investment Authority. Using descriptive and scooping methods, the study showed that the total assets value of the Sovereign Wealth Fund (SWF) authority, the total assets value of the SWF group consolidated, the net profit of the SWF authority and the net profit of the SWF group consolidated have not reasonably influenced the economic growth of Nigeria. The work recommends amongst others that the government should be consistent in transferring excess crude oil revenue to the Fund; strategic partnership with investors with superior business intelligence is required; and the SWF Authority must promote accountability and transparency in the management of the funds.

Exploring the impact of beliefs and experiential factors on extra virgin olive oil consumption

Italian extra virgin olive oil, globally acclaimed for quality and integral to the Mediterranean Diet, attracts heightened demand in high-income societies. This study, utilizing Multivariate Analysis of Variance (MANOVA), delves into the interplay between socio-demographic variables and consumer behavior in olive oil preferences. Key findings reveal that variables like sustainable certification interest, attention to labeling, knowledge of certification, purchasing preferences, gender, and olive oil knowledge significantly differentiate consumer groups. Specific MANOVA analysis highlights the distinct impact of gender, certification knowledge, labeling attention, and sustainable certification interest on factors like price, brand, origin, certification, production method, and packaging importance. This study provides concise insights into complex dynamics of consumer behavior surrounding Italian extra virgin olive oil. Identified influential factors shed light on nuanced relationships between socio-demographic variables and consumer preferences, aiding agri-food companies in aligning products with evolving needs in high-income societies. The results of this study suggest a significant difference in the combined variables across gender, knowledge certification, attention to labeling, and interest in sustainable certification, indicating varying responses to the importance of price.

Navigating between socio-economic viability and environmental impacts: The sachets and sticks paradox

Sachets and plastic sticks, single-use packaging primarily constructed from polyethylene terephthalate (PET), have proliferated globally for their convenience and multilayered construction that ensures product integrity. Especially prominent in emerging markets and amplified by pandemic-driven demand for hygiene products, these formats contribute significantly to fossil fuel industry revenue, aligning closely with petrochemical infrastructure developments such as fracking. While providing producers risk mitigation and cost-effective branding opportunities, these packaging types impose significant environmental tolls. The multimaterial layered composition of these materials hampers recycling efforts, and incineration releases toxins, exacerbating pollution. The plastics industry thus becomes an economic support for fossil fuel sectors facing declining oil demand. The growth of this sachet-stick economy represents a precarious balance between immediate economic benefits and long-term environmental ramifications. As global attention increasingly turns toward sustainability and pollution reduction, it becomes crucial to analyze the true environmental and socioeconomic costs of sachet and stick packaging.

The asymmetric impact of oil market shocks on the time-varying connectedness and spillover of financial stress

ABSTRACT Applying a novel time-varying parameter VAR (TVP-VAR) extended joint connectedness approach this study first examines the connectedness and spillover of financial stress among twelve large Asian economies. The finding shows that the usually high connectedness of the financial stress among these economies was further elevated during the Asian financial crisis and global financial crisis but not significantly during COVID-19 pandemic. The direction of spillover depends on the level of economic development. Developed economies such as South Korea, Singapore and Hong Kong are significantly net transmitters of financial stress to other Asian economies whereas countries such as Pakistan and Indonesia are significantly net receivers. Applying linear and non-linear Markov-switching models this study further examines the impact of oil-supply, and consumption- and speculation-led oil-demand shocks on the dynamic connectedness of financial stress indexes. In the linear model only a speculation-led increase in demand for oil increases the connectedness. However, the Markov-switching model reveals that in the high-volatility regime all types of oil shocks influence the connectedness of the financial stress among these economies. This emphasizes the elevated role of oil market in transmitting financial stress across economies during the time of economic turmoil.