KAPSARC – Unraveling the Black Market for Oil: The Complex Web of Phantom Trade, Oct 2024

The October 2024 KAPSARC report analyzes the hidden complexities of the global black market for oil. This report delves into how clandestine oil trade impacts global energy security, economic stability, and social welfare. By examining phantom trade routes and unauthorized oil flows, KAPSARC provides a nuanced understanding of this underground market’s reach. The study covers various aspects, such as the geopolitical motivations behind illicit oil transactions and the economic pressures they impose on legitimate markets. The report suggests that understanding this black market is critical for policymakers aiming to bolster energy security and regulate illegal oil trade's adverse effects on trade balances and governance.