Publication

This study examines the role of energy and oil in the Middle East strategic balance. It considers the oil shocks of 1973-1974 and 1980 and the sharp rise in prices in 1999-2000. Moreover, it examines how these have influenced the policymaking of regional actors. It also reviews rates of investment and technological development in the Middle East petroleum sector. Finally it assess two reports that forecast global demand for oil up to 2020 and discusses what ramifications this may have for Middle East producers.