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
Energy subsidies are among the most pervasive, and most controversial fiscal policy tools in the Middle East and North Africa (MENA). In a region with few functioning social welfare systems, subsidized energy prices continue to form an important social safety net, albeit a highly costly and inefficient one. In the MENA region’s oil and gas […]Download the Publication 1.33MB
Over the past decade, China has become a key driver of global oil demand growth. As China’s GDP growth increased at double-digit rates, oil demand growth increased by an average 0.5 mb/d between 2003 and 2012. Over the same period, China accounted for two-thirds of global oil demand growth. Thus, any changes in China’s energy […]Download the Publication 996.73KB
The most common business structures in the industry today are either production sharing contracts (PSCs) or royalty/tax systems (R/Ts). Roughly half of the governments of this world use PSCs and the rest use R/Ts. While these systems are fundamentally different from philosophical and legal perspectives, their structures are dramatically similar from financial, economic, and accounting […]Download the Publication 1.13MB