Why is oil considered a strategic commodity
A strategic commodity is considered to be very important. This is a resource that is important to a country that a country will go to any extent to ensure its consistent supply. A good example is oil which is used in every industry that you can think of. Oil is considered a strategic commodity because it is a very valuable resource and many nations need a constant supply of it. Why could water be considered a strategic commodity. Water could be a strategic commodity if it was being sent to a nation that had very little water at the moment. Oil is a strategic product that models international policies and since the late nineteenth century, oil guides the foreign policy of great powers – regardless of rhetoric – because oil is also essential for financial speculation.