This blog is part four of a series that explores the intricate history of oil. 1973-1994: The Middle East Shrugs its Shackles It is important to understand that the oil industry is largely a Western invention and is very much American led. When America began making overtures to King Ibn Saud of Saudi Arabia in […]
Dateline January 2015: The Perilous Plummet The week of January 26, 2015, saw the price of a barrel of oil drop below $45. It has been a perilous plummet from a high of $100.52 just six months ago. If you ask a Goldman Sachs trader, they may tell you the price will probably continue to […]
For a lot of people, the Middle East is known for being one of the world’s largest suppliers of oil. However often we don’t realize that it is also one of the world’s biggest consumers of oil. It’s a well-known fact that energy consumption in most regions worldwide is growing. However according to the Energy […]