Navigating Market Volatility: Analyzing the Influence of Oil Price Fluctuations on Stock Prices in the Saudi Arabian Mining Sector

This study utilizes panel data models to thoroughly examine the intricate relationship between oil price fluctuations and stock prices within the Saudi financial market across 15 distinct sectors. The research unveils a nuanced under-standing of the long-term negative impact between oil prices and Saudi stock prices. Employing robust causality and co-integration tests, the study establishes a durable equilibrium relationship with bidirectional influences between these variables. These findings carry actionable insights, providing valuable guidance for investors, policymakers, and financial market stakeholders to navigate the complexities of the Saudi Arabian market dynamics.