How the Middle East oil pricing system emerged in the 1940s - Economic Research Forum (ERF)

How the Middle East oil pricing system emerged in the 1940s

How the Middle East oil pricing system emerged in the 1940s

By Nuno Luís Madureira

The discovery of giant oil fields in the Persian Gulf in the 1940s was a turning point in the history of global oil prices. This LSE Business Review column outlines how the Middle East became..more