geopolitics of oil

Geopolitics of oil refers to the way oil resources influence global politics and relationships between countries. Nations with large oil reserves, like Saudi Arabia and Russia, wield significant power, impacting global economies and security. Access to oil affects trade, alliances, and conflicts. Countries often compete for energy resources, leading to tensions or cooperation. Oil prices can sway national economies and drive policies. As the world shifts towards renewable energy, the geopolitical significance of oil is evolving, altering how countries interact and strategize for energy security and sustainability.