Oil Monopoly

An oil monopoly occurs when a single company or entity controls all or most of the oil production and supply in a region or globally. This control gives the monopoly significant influence over oil prices and availability, reducing competition and potentially leading to higher prices for consumers. Historically, major oil companies or governments have held monopolistic power, shaping markets, policies, and economies. Such dominance can limit market resilience and innovation, making the supply of oil more vulnerable to manipulation or disruption by the controlling entity.