Abstract
Energy is a necessary and vital input to economic activity throughout the world. Oil plays a key role in this regard; crude oil is today one of the most highly valued commodities in international trade. While some might consider oil as a homogeneous commodity that should carry the same price worldwide, in reality price differentials among regions of the world exist due to market conditions, shipping distance and political factors. Saudi Arabia remains the dominant force in oil, accounting for around 13% of the world’s production and 20% of global exports.
Business is like oil. It won’t mix with anything but business.
J. Graham
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Ramady, M.A. (2010). The Energy Sector. In: The Saudi Arabian Economy. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-5987-4_8
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DOI: https://doi.org/10.1007/978-1-4419-5987-4_8
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