Andreas Goldthau

Saudi Arabia: Harnessing the oil market

in Mark Leonard (ed), Connectivity Wars: Why migration, finance and trade are the geo-economic battlegrounds of the future, London: European Council on Foreign Relations, 2016, 204-214 (with Dag Harald Claes and David Livingston)

Abstract

Saudi Arabia is the pivotal actor in the global oil market, thanks to its output of roughly 10 million barrels of oil per day. The kingdom’s geoeconomic
power rests on its strategic positioning in the oil market and its ability to exert influence in this market. In order to understand the political role of Saudi Arabia, one needs to understand its economic role in the world’s prime energy market. However, Saudi Arabia’s geo-economic dominance will increasingly come under scrutiny.

The essay collection is available from ECFR.