Trends in Global Oil Investments Over the Past 20 Years

Abstract

Today, energy is an irreplaceable resource without which it is impossible to imagine the life of modern society. Oil, as the most important energy resource, has a significant impact on both individual economies and the world economy. The main objective of this chapter is to identify the relationship between oil supply and oil demand of developed and developing countries on the example of OECD and Former Soviet Union countries. The changes that took place in supply and demand in the oil market from 2000 to 2020 are investigated. The chapter uses graphic and mathematical analysis. It is clear with a fair amount of confidence that the oil demand in developed countries is higher than their supply, and the supply of oil in developing countries is rather more than demand. Also, the chapter draws attention to investments in the oil industry, including on the example of Russia as a former USSR country, analyzes their current state, and draws appropriate conclusions.