A REVIEW OF OPPORTUNITIES, POTENTIAL AND CHALLENGES OF OIL POLITICS IN WEST ASIA

ABSTRACT

Most of the scholars and foreign policy analysts agree that in the Post-World War (Second World War) time frame, the majority of the states have understood that not all things can be refined through direct fighting and military power. Subsequently a right blend of political, monetary and exchange strategy holds the way to achieve worldwide destinations. Post conflict foundations like the UN spotlight on this just and thusly its choices are not generally restricting. Discretion and authorizations are along these lines the apparatuses used to state its strength. In this day and age, the global market is multipolar. The gulf nations which were once viewed as poor are currently flourishing at standard with created countries because of the broad oil exchange. Oil has gotten thriving the parched locales which were once ill suited for business exercises. In any case, oil has additionally prompted different conflicts in the locales as the amazing countries regularly attempt to undermine the systems in the area which are not in support of themselves. Oil strategy has turned into a limiting element for the West Asian nations of which OPEC (Organization of the Petroleum Exporting Countries) is a perfect representation. By controlling the huge portion of oil holds, these nations control a critical portion of the world economy which was apparent from the oil overabundance of the 1980s brought about by the Iranian insurgencies. The world economy today again remains at a point where, the inlet war can again blow up the costs, offering mishaps to the world economy. The present research paper highlights the opportunities, potential and challenges of oil politics in West Asia in the changing global scenario.

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