The article looks at how oil price changes affect stock market returns in different countries. The researchers used a special statistical model to analyze data from 15 countries. They found that in some countries, when oil prices go up a lot, stock market returns also go up, especially when the market is doing well. This was seen in countries like China, India, Canada, Russia, Norway, Malaysia, Philippines, and Thailand. However, this relationship can change over time and is not the same in all countries. The effect of oil price changes on stock market returns is not always the same and can vary depending on the country and the time period.