Governments and Oil Markets

Adi Imsirovic ()
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Adi Imsirovic: The Oxford Institute for Energy Studies (OIES)

Chapter Chapter 6 in Trading and Price Discovery for Crude Oils, 2021, pp 71-86 from Springer

Abstract: Abstract The Great war and oil, how oil becomes a strategicoil markets commodity. Greater role for governments. ‘Peak oilPeak oil’ creed and even more government interventiongovernment intervention. Colonial world lives on. Cold warCold war. National interests, security of supply, and an international cartel. ‘Open door’ is shut. Price makers: ‘Gulf PlusGulf Plus’ and changing flows of oil. ‘Seven SistersSeven Sisters’ and totaltotal market dominance. Adjustments in prices that do not make sense. Cartel arrangements to balance the market.

Date: 2021
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DOI: 10.1007/978-3-030-71718-6_6

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