The oil market is a complex and interconnected global system, where shifts in demand, geopolitical developments, and economic trends can have far-reaching impacts. One of the most significant recent events in this market was when oil prices began approaching $60 per barrel, driven in part by a rise in China’s oil imports. This development not…
The discovery of oil reserves in the seabed of the South Atlantic has rekindled tensions between the United Kingdom and Argentina over the sovereignty of the Falkland Islands (known as the Islas Malvinas in Argentina). This issue, deeply rooted in history, is not merely about control over remote islands but involves significant strategic, economic, and…
The 2009 Oil Demand Decline The year 2009 was a turning point for global oil demand, marking the lowest consumption since 2004, as reported by the U.S. Energy Information Administration (EIA). This decline can be traced back to the global financial crisis that began in 2008, leading to significant economic downturns worldwide. As economies contracted,…