GLOBAL OIL MARKET INDICATORS’ INTEGRATED RESEARCH IN THE CONTEXT OF A GEOGRAPHICAL COMPONENT

Author(s): Kuzmenko S.S., Kozlova M.O.

Rubric: Domestic and foreign trade

DOI: 10.21777/2587-554X-2022-2-60-67

Release: 2022-2 (41)

Pages: 60-67

Keywords: world oil market, cost, export, import, production, dynamics, structure

Annotation: The article describes the general characteristics of the world oil market, identifies the largest centers of international oil trade. The geographical structure of the world oil market has been studied and the leading countries have been identified in terms of production and consumption of oil. The balance of supply and demand has been determined. The analysis of economic indicators of the world oil market, such as the geographical structure and dynamics of the physical volumes of proven oil reserves, the geographical structure and dynamics of oil production for 2016–2020, was carried out. Since oil is the most traded commodity on the world market, the article describes the structure of world oil exports in 2016–2020, and also examines the dynamics of the value of international oil trade in 2016–2020. Based on the study, the authors proposed trends in the world oil market in the context of the participating countries.

Bibliography: Kuzmenko S.S., Kozlova M.O. GLOBAL OIL MARKET INDICATORS’ INTEGRATED RESEARCH IN THE CONTEXT OF A GEOGRAPHICAL COMPONENT // Economics and Management. – 2022. – № 2 (41). – С. 60-67. doi: 10.21777/2587-554X-2022-2-60-67