Abstract
This chapter provides a brief overview of the history of the oil market, from its early beginnings to the 1980s. An understanding of the historic background is essential to study its financialisation, which is categorised into three periods. Topics such as peak oil, the creation of OPEC, the abolition of the gold standard and the 1970 crises are also outlined before introducing to the reader the concept of financialisation and the principles which drive the periodisation applied throughout this book.
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Gkanoutas-Leventis, A. (2017). The History of the Oil Market until the 1980s. In: Spikes and Shocks. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-59461-7_2
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DOI: https://doi.org/10.1057/978-1-137-59461-7_2
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-59460-0
Online ISBN: 978-1-137-59461-7
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