156

Abstract

Volume 42 - 2016 -

Issue 156

The global oil market has been facing a noticeable transformation lately

as new sources of supply are emerging from North America, in addition to the

decline in OECD countries crude oil demand, and its increase in the developing

countries, especially the emerging economies in Asia. It is expected that the

global oil market would take a different trend, represented in the changing size

and map of the world oil trade, which would have possible impacts on OAPEC

members.

The study consists of four main parts. The first part reviews the evolution of

the global oil supply and demand according to the major international groups.

The second part reviews the development of the oil and major petroleum

products price levels in the main markets. The third part is devoted to follow the

evolution of the global oil trade map according to the major international groups.

The fourth and last part of the study shed some light on the future prospects

of the map of the global oil market and the potential implications for OAPEC

members. The study ends with a summary and some recommendations.

One of the most important findings of the study is that the future prospects of

the global oil market map will require OAPECmembers to enhance their efforts

in order to maintain a suitable price for their crudes and to retain their share in

the global oil market, in the light of the increase in oil supplies from non –

OPEC countries, particularly shale oil from North America.

Developments of Global Oil Market Map and

their Potential Impacts on OAPEC Members

Maged Ibrahim Amer*

* Economic Researcher, Economics Department ,OAPEC – Kuwait.