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Jerusalem Center for Security and Foreign Affairs (JCFA)

Strategic Alliances for a Secure, Connected, and Prosperous Region
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Author: Antoine Halff

Antoine Halff is a Principal Analyst for the Oil Industry and Market Division of the International Energy Agency.
Instability in the Gulf and the Threat to Oil Stability

Instability in the Gulf and the Threat to Oil Stability

October 20, 2004 | Antoine Halff
The major increase in strategic oil reserves in the consuming countries could prevent the renewed use of oil as a weapon, as was the case during the Arab oil embargo of 1973. In addition, most of the Middle East's oil today flows eastward to Japan, Korea, and China, countries that are less likely to be prime targets in a dispute with Middle Eastern countries.