ABSTRACT This paper surveys the history of the oil industry with a particular focus on the events associated with significant changes in the price of oil. Although oil was used much differently and was substantially less important economically in the nineteenth century than it is today, there are interesting parallels between events in that era and more recent developments.
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Iraq's With the Western-leaning, reformist agenda of Iran President, Hassan Rouhani, neutered by the unilateral withdrawal of the U.S. from the Joint Comprehensive Plan of Action in 2018, hardline groups led by the Islamic Revolutionary Guards Corps (IRGC) have been able to gradually recoup all of their previous power and influence, and more. The additional part has been a defi
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Last weekend’s agreement notwithstanding, international cooperation over oil output stands to be short-lived as the short- and medium-term battles for market share intensify. Over the course of the Easter weekend US President Donald Trump succeeded in brokering a deal between Russia and Saudi Arabia which seemingly brought to an end the impasse in the Opec+ group over oil ou
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Over the past week or so, China has eased quarantine measures in Wuhan – the city in which the global coronavirus pandemic began – with the entire lockdown scheduled to end on 8 April. With China’s President Xi Jinpiang having visited the city just a few days ago, the industrial economy across China as a whole is back working and operating at levels even above the pre-coronavir
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The changing geopolitical landscape for Iraq’s energy sector Much ink has been spilled over the past week assessing the current confrontation between the US and Iran following the US-ordered airstrike against Qassem Soleimani, commander of the Iranian Revolutionary Guards’ Quds force and Abu Mahdi al-Muhandis, deputy head of Iraq’s Popular Mobilisation Forces
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