Saudi 2014). The future trend of the market

Saudi
Arabia is one of the largest producers of the oil and exporter that hold
approximately quarter of the proven global reserve (Al-Mutairi,
Abu-Khamsin, Okasha, & Hossain, 2014). The national oil
company of Saudi Arabia named Saudi Aramco is the largest integrated global oil
company that performs its operations in the exploration of oil, its production,
refinement then marketing of oil and its shipment internationally (Jones, 2012). The hydrocarbon
system of the company is efficient in the management of the level of production
for different five grades of crude. The global market for crude oil is facing
volatility from some previous years and it has the ability to influence all the
sectors of the economy due to its wide use (Kilian & Murphy, 2012).

This
paper will discuss the global oil market, its history and current status of
this market. The detailed analysis will also make on the policies of KSA about
oil, its history and current state (Cherp & Jewell, 2011). As oil is a most
used and desirable product and its demand is increasing day by day, that is why
the paper will also discuss the global oil market and all the national oil
companies. As the global market of oil is very wide and OPEC is also a major
player of this market, so the functions of OPEC and its influence on the
international market will also discuss (Bentley, 2002).

Saudi
Aramco is an important player in national as well as international level, so
the effort will also make no analyze its policy, roles, present as well as the
future strategy to capture the market share (Levy & Kolk, 2002). The paper will also
discuss the reason of volatility of oil prices and the peak and bottom state of
oil. The current and future demand and supply of the oil will also forecasted
and find out the answer of the question that either the level of production is
optimal economically and provides guarantee about the economic profit that
should be feasible (Kilian & Murphy, The role of
investment and speculative trading in the global market for crude oil, 2014). The future trend of
the market and the important player of the market may also be identified with
the help of this research.