VOL. XXXIV

NO. 2

15-OCTOBER-1990

The Gulf Crisis: Oil Fundamentals, Market Perceptions And PoliticalRealities

By Shaikh Ahmad Zaki Yamani

The following is the text of an address delivered at The First AnnualConference of the Centre for Global Energy Studies in London on 8 October 1990.

The oil market has certainly not disappointed those who might have fearedthat it had lost its ability to shock. The recent dramatic events in the Gulfhave resulted in the oil price more than doubling within two...