International Oil Market



This chapter provides a brief review of the evolution and developments of the international oil market. It sketches the historical evolution of the oil industry and indicates the major changes observed in this market. The chapter also presents a brief analysis of some relevant issues such as the changing role of international and national oil companies, changing demand-supply patterns and the OPEC behaviour.


Saudi Arabia Middle East Spot Market Spare Capacity West Texas Intermediate 
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© Springer-Verlag London Limited 2011

Authors and Affiliations

  1. 1.Centre for Energy, Petroleum and Mineral Law and PolicyUniversity of DundeeDundee UK

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