Аннотация: Possession of huge oil reserves requires competent regulation of the ongoing processes in this area. The evolution of oil market regulation mechanisms is transformed in accordance with the challenges of the time. In order to achieve rationalism in the oil industry, attempts are made to stabilize the interests of formal and informal associations of exporting countries.
The impact of the oil factor on the world economic and political processes is essential for understanding the nature and direction of world development, both in General and for individual countries.