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Petroleum politics have been an increasingly important aspect of diplomacy since the rise of the petroleum industry in the Middle East in the early 20th century. As competition continues for a vital resource, the strategic calculations of major and minor countries alike place prominent emphasis on the pumping, refining, transport, sale and use ...
An escalation of conflicts in the Middle East in recent weeks has triggered a sharp increase in oil prices, raising uncertainty about where costs will head in the final weeks before Election Day.
Oil prices climbed this week as tensions in the Middle East escalated. Iran launched missiles at Israel and the Israelis threatened retaliation, raising the possibility of a disruption to the flow ...
U.S. Marines on guard duty in April 2003 near a burning oil well in the Rumaila oil field of Basra, Iraq, following the 2003 U.S. invasion and during the Iraq War.. United States foreign policy in the Middle East has its roots in the early 19th-century Tripolitan War that occurred shortly after the 1776 establishment of the United States as an independent sovereign state, but became much more ...
In 2009 the largest share of oil production was in the Middle East (24 million barrels daily, or 31 per cent of global production). According to Transparency International based on BP data regionally the largest share of proved oil reserves is in the Middle East (754 billion barrels, constituting 51 per cent of global reserves including oil sands and 57 per cent excluding them).
Another powerful factor in the Middle East is China, which buys most of Iran’s oil and is forging partnerships with many oil producers in the region. China is a net importer of oil that wants to ...
Category: Petroleum politics. ... Oil exploration in the Middle East (4 P) Oil ministers (21 C) OPEC (2 C, 20 P) P. Peak oil (3 C, 44 P) U. United Nations Oil-for ...
Oil prices rose above $91 a barrel Monday as diplomatic efforts to address the crisis in the Middle East intensified, but slipped back later in the day, falling below $90 on reports that that US ...