The International Oil Market

Paper Summary:

Examines various aspects of the global crude oil market. Dominant issues. Future supply/demand assessment. Role of OPEC. Economic effects on Saudi Arabia of future supply and demand for crude oil. Discusses past developments, the energy crisis and crude oil supply and demand in 2001. Global environment. Future implications. 3 Tables.

From the Paper:

"THE INTERNATIONAL OIL MARKET: FUTURE SUPPLY/DEMAND ASSESSMENT AND ITS PROBABLE IMPACT ON THE ECONOMY OF SAUDI ARABIA

Introduction
From March 2001 to November 2001, the global crude oil market shifted from an environment of under supply to an environment of under demand. In early-2001, the dominant issue in the context of the global crude oil market was the probable economic effects on oil-importing nations. In late-2001, however, the dominant issue in this context is the probable economic effects on oil-exporting nations; especially oil-exporting nations for which crude oil is the country s primary source of export earnings ( A changing Oil Market 19).

Saudi Arabia is a prime example of an oil-exporting nation for which crude oil is the country s primary source of export ..."

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