The purpose of this study is to analyze the effect of fluctuations occurred in national and world oil prices to financial and macroeconomic factors within the scope of 19 OECD countries and to contribute to empirical studies which take place in field literature. In the study, monthly data set of the period of 1994-2013 of above counties was used. In line with the findings offered on the basis of countries, even though it is not possible to come up with a certain deduction between the energy and financial and macroeconomic factors towards all the countries, it was possible to group the related variables in relation to the countries belonging to OECD in terms of interactions among each other.