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Title: The impact of Middle East oil on world oil prices 1973-83
Author: Zainabdin, A. S.
ISNI:       0000 0001 3576 5685
Awarding Body: University of Strathclyde
Current Institution: University of Strathclyde
Date of Award: 1977
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This study is an analysis of recent developments in the world oil market. It examines the likely trends for the future and their implications. It is assumed that during the period under study, 1973-1983, no major political upheavals in the Middle East, no major slump in world economic activities, no major oil discoveries outside the Middle East region and no significant technological breakthrough in energy production or consumption will take place. Attention is focussed on the major Middle East Arab oil producers for whom oil is decisive in their social and economic destinies. The study is particularly concerned with the three major oil-consuming markets: the United states, Western Europe and Japan. It provides estimates for the prospective demand for OPSC oil for their markets in physical and money terms. It is divided into five chapters. Chapter I discusses the economic impact of the oil industry on Iraq, Saudi Arabia, Kuwait and the Emirates. The role of the oil industry on the Iraqi economy and the objectives of Iraq oil policy are discussed in Chapter II. An analysis of the main features of the international oil market in the 1970's is included in Chapter III. Chapter IV analyses the developments in Middle East crude oil prices since the beginning of the seventies and until the present. The final chapter provides projections of the oil demand of the major oil consumers and estimates of OPEC oil revenues in 1983 under various sets of assumptions. It was found out that demand for oil under any assumption will continue to be large and that until the industrialized world develops alternative sources to oil, and this cannot be realized in the short term, the consuming countries will continue to rely heavily on the Miliddle East area as their obvious source of supply.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral