Oil & the Middle East Programme
The Oil and the Middle East Programme of the Oxford Institute for Energy Studies was established in 2009. It is dedicated to the advanced study of modern-day oil markets and of the economics of natural resource wealth. With historical focus on the resource-rich economies of the Middle East, the Programme also focuses on major non-OPEC producing regions such as Russia, and emerging energy markets such as China and India.
The programme’s research activities centre around its three main thematic branches:
- Oil markets and their financialisation
The key area of the programme’s research concentrates on global oil market dynamics, such as oil price behaviour, benchmark developments, fundamentals research, the impact of unconventional energy sources and of biofuels on oil market dynamics, producer-consumer relations, and oil market financialisation hypotheses.
- The economics of resource-rich economies and the Middle East
The programme’s second key area of research concentrates on the management of natural resource wealth within resource-rich economies, including resource-based development strategies and economic growth, ways of distributing natural resource rents, and domestic demand growth challenges.
- Development of emerging energy markets
In response to the rapid rise in energy consumption outside traditional OECD energy consumers, the Oil and the Middle East Programme analyses demand and supply patterns in emerging energy markets, including Russia, India, China, Latin America and Africa.
Research is disseminated via a dedicated research paper series, short energy comments and contributions to academic journals and specialised publications, in addition to a book series published by Oxford University Press. Members of programme staff have also been involved in a range of international publications, including the United Nations Development Programme (UNDP), the International Energy Agency (IEA) and the International Energy Forum (IEF). The Programme’s research group is composed of core staff, and draws on a network of external contributors from a wide range of disciplinary and industrial backgrounds.
Latest from the Oil & Middle East Programme
Less than 10 years ago, at the height of the commodities boom, Brazil was all but assured a place as an oil world powerhouse following the discovery of oil in its subsalt basins. Much faith has been put in Brazil delivering the barrels needed to keep the medium-term oil market in reasonable balance. Whether it [...]Download the Publication 1.81MB
Published: 15th October 2014 | By: Adi Imsirovic
Dubai crude oil has been the main Asian benchmark since the mid-1980s. The most notable and recent development in the Dubai benchmark has been the significant increase in the liquidity in the Platts ‘window’. What has caused this increase in liquidity? To answer this question, this comment will look at the two recent shifts in [...]Download the Publication 1.2MB
The US Tight Oil Revolution and Its Impact on the Gulf Cooperation Countries – Beyond the Supply Shock
Published: 13th October 2014 | By: Bassam Fattouh
While the impact of the increase in US production on prices and on oil market dynamics is yet to be fully felt, as some of the underlying forces still need time to unfold and need to be fully understood, it is important to provide a general framework to help us analyse the US shale revolution [...]Download the Publication 2.56MB