The Middle East - Its Role in World Oil: A Survey of Issues
DOI:
https://doi.org/10.15173/esr.v4i1.262Abstract
The importance of the Middle East oil resource base is exceptional, in quantitative as well as economic terms. The region's role as supplier is of crucial significance for the world oil market. Those who control this resource wealth have a considerable power to manage the market, to the detriment of consumers. The users of oil also suffer from the supply disruptions that have repeatedly resulted from the long lasting political instability characterizing the region.
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