Oil is localised – it cannot be produced where reserves don’t exist – and yet it is the lifeblood of globalisation. A country that dominates the oil market, which is the world’s largest commodity market, is automatically an influential player in international economic affairs and, by proxy, international politics. This is the the base of Saudi Arabia’s economic might. But there are challenges. Read more.
- Why we need to rethink the financial future of oil
- Is Nord Stream 2 a threat to European energy security?