Saudi Arabian Oil Policy and the Iran-Iraq War

What Drives Saudi Arabian Oil Policy?

By: Alexander Hay

Narrated by: Virtual Voice

Saudi Arabian Oil Policy and the Iran-Iraq War, analyzes Saudi oil decisions between 1979 and 1986, focusing on the interplay between economic factors and the regional political environment. It argues that Saudi Arabia often prioritized political security over economic rationality, especially during the Iran-Iraq War, using its oil policy as a tool to navigate regional threats and pressures. The study examines key events such as the 1973 oil embargo, the 1979 price increases, and the 1985 price war, revealing patterns in Saudi behavior. The author contends that economic models fail to fully explain Saudi oil policy due to their neglect of the regional power dynamics influencing Saudi decisions. The book further explores the internal conflicts within OPEC and how Saudi Arabia's role as a swing producer was shaped by the political climate. It provides a historical context of the 1970s, examining the differences between the 1973 Oil Embargo and the 1979 price increases.