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It was the oil crisis of the 1970s that brought OPEC to the world stage, and it is a new oil crisis that may be its downfall. For not only did the Caracas summit sideline the environment, it also neglected the pressing question of alternatives to fossil fuels.

The second part of a two‐part article which examines the dominant strategic factors which are developing and may develop in trading conditions of the oil industry's general environment and their likely influences on the key structural assumptions inbuilt in the “strategic cycling” perspective of the integrated operations approach presented in the first part.

The purpose of this paper is to look at the asymmetric effect of oil production on environmental degradation in OPEC member countries from 1970–2019.

The authors build a nonlinear panel ARDL–PMG model using the Shin et al. (2014) nonlinear autoregressive distributed lag (ARDL) approach in panel form to assess both the short- and long-run impact of positive and negative oil production movements on CO₂ emissions.

The result demonstrates that the variables are cointegrated. According to the linear long run coefficients, oil production, FDI inflows and economic growth both have a positive and significant relationship with CO₂ emissions, implying that they deteriorate environmental quality in OPEC countries, while renewable energy has a negative relationship with CO₂, implying that increasing renewable energy improves environmental quality. The asymmetric findings prove that positive and negative shocks of oil production exert a positive effect on carbon emissions in short run and long run.

To begin with, the empirical assessments do not include all OPEC member nations; researchers are advised to resolve this constraint by looking at the economies of other OPEC members. Albeit the lack of data for other energy sources may serve as another constraint of this research, future research is expected to broaden the current framework via other energy sources such as nuclear, electricity, biomass, solar as well as wind.

The research adds to the body of knowledge as many of the prevailing studies in the literature failed to look at the asymmetric effect of oil production on the quality of environment. This is another gap in the literature that the current study is set out to fill. This study adds oil production as an explanatory variable and helps to extend the existing literature for OPEC countries, which could propose a solution to deal with ensuing environmental issues.

The so-called “oil price war” of 2014-2016 took place between several main global oil producers; OPEC (led by Saudi Arabia), Russia and the newcomer; American tight oil or fracking oil. These oil producers were competing against each other over market shares in the global oil market, by maintaining their high oil production rates, even if this led to a decline in oil prices and a reduction in revenues from oil sales. As energy politics need more coverage in International Political Economy (IPE) theory, this paper aims to argue that Saudi Arabia's policies during the oil price war of 2014-2016 reflected a policy of neomercantilism, which is the IPE equivalent of the school of realism in International Relations (IR).

This paper tests for neomercantilism by testing three of its main definitional components. The first definitional component is that the state, as the political authority, intervenes in the economic decisions. The second component is the primacy of the state interests over business corporate profits, or the primacy of political and security considerations over short-term economic and corporate profit considerations. The third is the zero-sum or relative gains nature of dealings between states. Afterwards, this paper tests for neomercantilism in the Saudi policy by examining how each of these definitional components is reflected in the Saudi policy during the oil price war.

As energy politics need more coverage in International Political Economy (IPE) theory, this paper argues that Saudi Arabia's policies during the oil price war of 2014-2016 reflected a policy of neomercantilism, which is the IPE equivalent of the school of realism in International Relations (IR).

As energy politics need more coverage in International Political Economy (IPE) theory, this paper argues that Saudi Arabia's policies during the oil price war of 2014-2016 reflected a policy of neomercantilism, which is the IPE equivalent of the school of realism in International Relations (IR).

This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria.

With data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries.

It was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found.

Integrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries.

This study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.

This study aims to examine the nexuses between economic growth, trade openness, renewable energy consumption and environmental degradation among organization of petroleum exporting countries (OPEC) members over the period 1990–2019.

The empirical strategy for the study includes dynamic heterogeneous panel pooled mean group (PMG), mean group (MG) estimators and dynamic panel threshold regression (TR) analysis. For clarity, PMG and MG are used to explore the long-run relationship between the variables, whereas TR is used to uncover the actionable and complementary policy thresholds in the nexuses between green growth and environmental degradation.

The empirical evidence is based on the significant estimates from PMG and TR. First, using PMG, the study finding revealed a long-run relationship between economic growth and environmental degradation via the PMG estimator. Second, using TR, the study revealed an actionable threshold for carbon dioxide emissions (CO₂) metrics tons per capita (mtpc) not beyond a critical mass of 4.88mtpc, and the complementary policy threshold of 85% of the share of trade to gross domestic product, respectively.

The policy relevance of the thresholds is apparent to policymakers in the cartel and for policy formulation. The policy implication of this study is straightforward.

The novelty of this study stalk in the extant literature on providing policymakers with an actionable threshold for CO₂ emissions with the corresponding complementary threshold for trade policies in the nexuses between green growth and the environment.