The future of the international oil market

Abstract

Energy sources are the cornerstone of economic development and human well-being due to their close association with direct and indirect uses that ensure the achievement of human well-being. Modern energy sources (oil, natural gas, coal - electric energy, hydropower, atomic and nuclear energy) are responsible for more Of the 95% of the volume of energy consumed in the contemporary world, oil sits on the throne of these sources, accounting for about 44% of the relative importance of the global energy consumption structure, according to the data of 1984, and the relative importance of oil is that it is a major energy source and it is a raw material for many manufacturing industries, especially those Which derives a name, which is the petrochemical industries. In order of the above, the main scientific purpose of the problem of this research stems from the following question: What is the future of the oil market in general and OPEC oil in particular? Thus, the scientific hypotheses of this problem are represented by the following questions: First: What is the current picture of the oil supply in general and the OPOC oil in particular? Second: What are the main trends of oil demand in the contemporary oil market, and what are their main features?