Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
A new energy order in the UAE and Saudi Arabia
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
Fifty years of oil trading
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
Australia’s post-election energy priorities
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
LNG gets political
From China blocking US LNG to Trump demanding that various countries import more of the fuel, the politicisation of LNG is on the rise
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
Letter from the US: Oil and gas producers face tax threat
Capping state corporate income tax deductions would reduce energy supplies and raise prices
Letter from Saudi Arabia: Energy, diplomacy and the art of the deal
Saudi Arabia is growing as a geopolitical and diplomatic force amid an increasingly fractured world
Trump’s energy policy paradox
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
Taiwan’s energy dependencies laid bare
Renewed China tensions threaten island’s inflows of oil and gas from overseas
How private energy traders secure global energy supplies
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
Yom Kippur War, 1973
Politics Trading
Neil Atkinson
26 September 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

How the Yom Kippur war changed OPEC

Half a century after the 1973 conflict, the world is dramatically different. But OPEC’s power remains

October will see the 50th anniversary of the Yom Kippur War, which resulted in an Israeli victory against Egypt, Syria and other Arab forces. As well as being an important event geopolitically, the fallout from the conflict profoundly changed oil markets by giving a new lease of life to the previously inert OPEC. Everything in the oil markets changed at the end of 1973, but 50 years later, OPEC is still powerful. Since 1973, the global economic balance of power has shifted eastwards following the rise of Asian economies, particularly China and, more recently, India. The OECD countries had a 69% share of global GDP in 1973; by 2022 this was down to 39%. The Soviet Union collapsed in 1991 and

Also in this section
India’s HMEL navigates clear path through market shifts
21 May 2025
Integrated refining and petrochemicals company highlights strategic flexibility amid trade war risks and long-term planning to futureproof business, says CEO Prabh Das
Oil market imbalances divide major energy agencies
21 May 2025
OPEC and IEA split on oil demand outlook and even diverge on supply risks, with huge implications for market sentiment
9th OPEC International Seminar
20 May 2025
Petroleum Economist is proud to be an official media partner for the 9th OPEC International Seminar in Vienna
Energean ready to go deep into Africa
20 May 2025
Mediterranean-focused gas producer looks to replicate Israel success story and is hunting projects across the continent, with particular interest in West Africa

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search