ابراهیم حیدری

Despite the decrease in global energy intensity, OPEC countries still have relatively low productivity and high energy intensity. Therefore, this study examines the impact of the influencing variables, such as technology, financial development, and trade openness, on energy intensity in OPEC countries between 2008 and 2020. For this purpose, the spatial econometric method has been used. The Spatial Durbin model was employed to ascertain the direct effect of technology, trade openness, financial development, and economic growth on OPEC members, as well as the spillover effect on each other. Our analysis revealed that technological innovation has the most significant direct effect on energy intensity, while the spillover effect between OPEC countries is not significant. The direct effect of economic growth is negative, but the indirect effect of economic growth is positive and significant. In contrast, financial development exhibits a positive direct effect on energy intensity, suggesting that policies promoting financial development may need to be revisited to align with energy efficiency goals. Finally, trade openness has no effect on energy intensity among OPEC countries. The study suggests that OPEC member countries should focus on policies that foster technological advancement while simultaneously addressing financial efficiency and trade patterns.