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date: 26 June 2022

Abstract and Keywords

This chapter examines the politics of oil through economic, political, and geographic lenses in an effort to offer an interdisciplinary perspective on topics that have traditionally been explained through economic sources. The chapter includes an oil market description alongside several empirical cases, as an invitation for researchers to consider the functionality of oil market structures when utilizing a geopolitical lens of analysis in their future research. Politically driven state actions by key oil market actors can affect oil production, trade, and transportation activities. If oil markets are transitioning beyond the current model, then price volatility will continue to increase and test the established boundaries of existing oil markets, as well as the stability of modern commodity exchanges.

Keywords: oil, energy, volatility, futures, OPEC, China, geoeconomics, geopolitics, shale oil, VIX, Saudi Arabia

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