This blog is dedicated to discuss the political economy of oil markets with a critical and historical approach. Oil has become a unique commodity in modern capitalism. Its market has been driven by transnational corporations and financial markets speculation. Articles, papers and personal comments on the global oil market framework, its fundamentals, supply and demand, cartels, imperialist policies, and the underlain class struggle issues are being daily gathered.
The World Trade Organization issued its World Trade Report 2005 - Exploring the Links between Trade, Standards and the WTO. The link below is the chapter that discusses the current oil market situation.
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