| Summary/Abstract |
Oil has emerged as the most potent weapon within the global economy and has increasingly been instrumental in designing the world politics and international relations. Its potentials have also shaped in terms of magnitude and scale so much so that it is fast becoming a strong determinant of world order. Oil ceases to be mere economics and commerce and a source of energy; rather it has assumed a multi-dimensional role in the wider milieu of international politics and international relations. Oil is one of the strong determinants of the value of Dollar in international market, alongside the arms and narcotics trade. It is quite ironical that oil constitutes the biggest sector of economy, and is the most important factor for crime, at local, national and international level. It is indeed one of the factors that have worsened the relations among nations and contributed toward political instability within states.
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