Saudi oil policy

Journal Article · · Wilson Q.; (United States)

OSTI ID:6443142

Long, D E

The history of petroleum discovery in Saudi Arabia and its subsequent impact on the kingdom's economy are outlined and shown to be a complex and confusing policy arrangement. Decision making is divided between the royal family and the Supreme Petroleum Council, which meets irregularly, through the processes of consultation and consensus. Policy is determined by the need to generate enough oil revenues to pay for the kingdom's economic development, to ensure political and economic stability, and to retain influence over Organization of Petroleum Exporting Countries (OPEC) price setting. Complicating these needs are the need to balance prices and production rates with new world oil discoveries and markets, salt encroachment in oil fields, and a commitment to OPEC stability. Saudi Arabia is expected to continue a moderate position. (DCK)

• OSTI ID: 6443142
• Journal Information: Wilson Q.; (United States), Journal Name: Wilson Q.; (United States) Vol. 3:1; ISSN WIQUD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
ASIA
DECISION MAKING
ECONOMIC DEVELOPMENT
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INTERNATIONAL ORGANIZATIONS
MARKET
OPEC
PETROLEUM
SAUDI ARABIA