ABSTRACT
This chapter provides answer to the following question: To what extent has cooperation between oil producers been achieved by Saudi Arabia's performing as a hegemonic power in the international oil market? Two important factors are considered to constrain the Saudi Arabian role as a hegemonic power: changes in the market structure; and the Saudi Arabian regime's preoccupation with security, both internal and external. The chapter discusses the following four phases: first, the period from 1973 to 1981, when Saudi Arabia was unable to exercise hegemonic power among the oil producers; and second, the period from 1982 to 1985, when Saudi Arabia performed the role of benevolent hegemon. The next two phases include: third, the period from 1986 to 1996, when the Saudi Arabian hegemonic strategy can be perceived as coercive; and finally the situation in 1999-2000 when Saudi Arabia combined the two hegemonic strategies.
