The Impact of <scp>COVID</scp>‐19 on Oil and Natural Gas Production

ABSTRACT The COVID‐19 pandemic has significantly impacted global economies, disrupting various sectors, including energy production. This study examines the effects of COVID‐19 on oil and natural gas production in 14 producer countries between January 2020 and December 2021. Using the generalised method of moments (GMM) and panel data analysis, we explore the relationship between pandemic‐related disruptions, energy prices and trade openness on the production of non‐renewable energy sources. Results indicate that COVID‐19 negatively influenced both oil and gas production, with a stronger impact observed on oil. While trade openness positively contributed to energy production, rising energy prices exacerbated the decline in output. The findings underscore the importance of resilience strategies, including robust energy policies and adaptive measures, to mitigate the effects of future global crises. This research contributes to the literature by providing comprehensive insights into the production challenges and opportunities within the energy sector during a pandemic.