Oil & the Middle East Programme
The Oil and the Middle East Programme of the Oxford Institute for Energy Studies was established in 2009. The focus of the Programme’s research is oil and Middle East economies within the disciplines of the Institute: economics, politics, international relations and public policy. Professor Bassam Fattouh is the Director of the Programme.
The Programme’s core staff and experts from academia and industry make up the Programme’s Research Group. Work is also commissioned from authors, outside the group, from a wide range of countries and backgrounds.
Research Objectives of the Programme
The Programme focuses on the study and analysis of oil market dynamics, oil price behaviour, the dynamics of future global oil demand, IOC/NOC relationships, fiscal terms and contracts, and the consumer/producer dialogue. It is also dedicated to the study of the Middle East economies including the management of oil wealth, and the effectiveness of the various methods of distribution of oil revenues; the challenges of economic diversification; and the macroeconomic policies needed to manage the impact of volatile oil revenues. Recently, the research agenda has broadened to reflect the increasing importance of countries such as Russia, the Former Soviet Union, China, India and Brazil and analysis of their potential impact on oil market dynamics.
Current and Planned Research
The Research Group meets twice a year with the Institute’s Academic Committee to discuss proposed research. Current projects and research plans include:
- Long Term Demand for Oil, Oil Prices and Investment in the Middle East
- The Oil Price Formation Process
- Speculation or Fundamentals: What have we learned so far?
- Energy Pricing in Resource-Rich Economies/Energy Subsidies in the Arab World
- The Oil Sector and Oil Policy in the Middle East, Russia and Brazil
- Middle East Gas Developments
Output and Dissemination
Dissemination of research output takes place through an active publication programme which includes books, monographs, a dedicated series of working papers, short comments, and contributions to academic journals and specialised journals.
The Programme also organises a series of seminars and workshops each year. One of the Programme’s key events is the annual ‘Oil Day’; the theme of which differs each year and is selected by the Programme Director to reflect current issues of special interest to the industry. Attendance is by invitation only.
Links to Other Programmes and Wider Networks
A key objective of the Programme is to enhance the role of the Institute as an international Centre of Excellence for the study of oil markets and the Middle East. The Programme builds on the Institute’s existing strengths and links in with other OIES programmes such as the Gas Programme; with other related research within Oxford University, and with the wider network of Members, benefactors, sponsors and friends, that characterises OIES.
We are interested in hearing from students and researchers working on the economics of oil and Middle East Economies in an academic environment worldwide. You can email Bassam Fattouh.
Latest from the Oil & Middle East Programme
Published: 8th October 2013 | By: James Henderson
Oil production from Russia’s core regions is in decline and the government is keen to encourage the development of fields in new areas in order to keep the country’s output above 10mmbpd. A series of joint ventures between state oil company Rosneft and various IOCs offshore in the Arctic has caused much excitement in this [...]Download the Publication 1.11MB
Historically, the industry has had a very poor record in predicting oil prices and key fundamental shifts in the oil market, and this time is no different. Not only did most industry and oil market analysts fail to predict the scale of the tight oil revolution, but now that the pendulum has swung in the [...]Download the Publication 949.45KB
In January 2013, the Government of India began deregulating the retail price of diesel by permitting Oil Marketing Companies to progressively raise retail prices over a period of several months, until their losses from the subsidization of diesel were completely offset. This policy decision represents one of the final stages of the ‘decontrol’ of prices [...]Download the Publication 1.38MB