Beyond Market Assumptions: Oil Price as a Global Institution

This book outlines the complex process of oil price formation, going beyond the classic methods of supply demand dynamics. It assesses the oil price as part of a pattern of social, economic and political behavior. Further, unlike traditional perspectives, it explores how the price of oil relates to the wider world beyond oil markets.

Presenting a collection of contributions by scholars with legal, economic and political science backgrounds, the book pursues an innovative and multifaceted approach to the subject. The authors address both the theories behind oil price definition and their practical application within a context of wider social and non-economic phenomena.

This book is essential reading for academic and professional audiences interested in the international political economy and the price of oil, as it adds a practical element to the academic discussion, and offers business-oriented insights into the core issues. In particular, the book will benefit students, academics and researchers, as it covers both theoretical and practical aspects concerning the price of oil and its impacts.

Andrei Belyiis a senior expert and associate professor on shale gas projects at the University of Eastern Finland. He is a member of the editorial board of the Journal of Energy Law and Business (Oxford University Press). He is also co-organizer and steering committee member of an international research group ＂Political Economy of Energy in Europe and Russia＂ for PhD students and early career researchers.