Saudi Arabia's Oil Policy Research (1933-2005)

According to 2001 data,The Saudi Arabia Kingdom owns one quarter of the world oil reserves, 13 percent of world oil production, more than 20 percent of petroleum sales in international markets. Saudi Arabia's oil policy that oil production, pricing, export and decisions to maintain its oil production ability constantly investing in the oil industry, is not only related to the country's economic development, social stability and political stability, but also affects the international petroleum organizations'oil policies such as the OPEC to influent the development of the world's economy.This paper reviews the oil development history in Saudi Arabia from 1933 to 2005. For standard of Saudi gradually withdrew oil rights in the 1980, it was divided into two phases:Saudi oil industry nationalization period, Saudi leading OPEC period. The policy which is constantly adjusted is attributed to domestic oil industry and international oil organization and it as the main clue threads throughout the two big oil development historical period in Saudi Arabia.By analyzing the evolution process of the Saudi oil policy, it is concluded that Saudi oil policy appears "mild" overall characteristic. And this paper mainly discusses the influent factors of the domestic and international which make Saudi oil policy remain "mild" characteristics.This paper is divided into six parts:The first part, the author expounds the present situation of domestic and foreign countries also introduces the history meaning.The second part, This section describes the Arab kingdom's founding history and summarizes the characteristic in political, economic, diplomatic and petroleum resources of Saudi Arabia.The third part, the author gives an outline of the Saudi's oil policy in oil industry nationalization period. This section mainly expounds how the Saudi oil industry emerged and international oil organizations founded such OPEC, also describes the process of using all the oil export countries' power to gradually realize the oil industry nationalization.The fourth part, the author describes the Saudi's oil policy in the period of Saudi leading OPEC. This section mainly elaborates in the fierce market competition, Saudi developed oil industry and established multiple international petroleum organizations to ensure their leadership role. At the same time, Saudi coordinating with other oil exported and consumer countries, maintained international petroleum market's supply and demand balance. The fifth part, the author analyses the factors influent Saudi oil policy. From natural conditions, economic status and geopolitical angles, This part explains why Saudi must rely on oil revenues to maintain the sustainable development and why must keep the political and economic ties with western countries. These international and domestic factors commonly effected, prompting Saudi maintain overall "mild" oil policy.The sixth part is the conclusion. On the basis of analyzing the oil development history in Saudi, this part summarized the oil policy features:Saudi government using the oil organization to promote the oil industry nationalization and using the development of oil industry to keep the leadership in oil organization, the author draws the conclusion:on the basis of mild and equilibrium principle,with the standard of supply and demand balance, Saudi Arabia formed the oil policy mode which oil organization and oil industry tightly integrated.