Concept: Oil Diplomacy
Topic: International Relation
Related News: Hindu, June 12
CNA mentions: 1(June 12)
Petroleum politics have been an increasingly important aspect of oil diplomacy since the rise of the petroleum industry in the Middle East in the early 20th century. As competition grows for an increasingly scarce but vital resource, the strategic calculations of major and minor countries alike place more prominent emphasis on the pumping, refining, transport and use of petroleum products.
The concept was in the news recently. To know why it was in the news click the above link titled ‘Related News’.