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
The sharp drop in the oil price between June 2014 and January 2015 turned the world’s attention to Saudi Arabia’s role in the oil market and the determinants of its oil output policy. Initial hopes that Saudi Arabia would come to ‘rescue’ and ‘balance’ the market and put a floor under the oil price were […]Download the Publication 1.75MB
The International Relations of the Green Economy in the Gulf – Lessons from the UAE’s State-led Energy Transition
Published: 28th May 2015 | By: Mari Luomi
In this study, Mari Luomi examines how the resource-rich GCC countries are positioning themselves in the international relations of the green economy, focusing on the UAE’s state-led efforts to acquire the means of implementation for a national green energy transition. The study addresses four questions: What strategies, external relations, and engagements have the UAE and […]Download the Publication 2.44MB
Published: 20th April 2015 | By: James Henderson
This paper analyses the fundamental drivers of Russian oil production in the current low oil price environment, highlighting a number of dichotomies currently at work. The low oil price has forced Russian oil companies to cut dollar expenditure and to re-assess their investment strategies, apparently putting oil production and exports at risk. However, the impact […]Download the Publication 3MB