Threats to Oil and the Functioning of the International Oil Market

Research for this paper was carried out in the context of the SECURE project (Security of Energy Considering its Uncertainties, Risks and Economic Implications), funded by the European Commission under the Seventh Framework Programme. The project aims to develop appropriate tools for evaluating the vulnerability of the EU to the different energy supply risks, and for promoting the optimisation of EU energy insecurity mitigation strategies, including investment, demand side management and dialogue with producing countries. This paper considers geopolitical threats to oil and the functioning of the international oil market.
Giacomo Luciani is Senior Advisor, Gulf Research Center and Director, The Gulf Research Center Foundation, Geneva, as well as Adjunct Professor of International Relations at the SAIS Johns Hopkins University Bologna Centre.