The production and use of oil from ancient times to the present is an important element of the life support of human society, since it can be the basis for obtaining new knowledge in the field under study. Despite the availability of publications on this topic, there is a gap in understanding the heritage of the past. The available publications do not contain a systematics of the dynamics of crude oil production in the Caucasus in the historical context, detailing the nature of the development of crude oil production, which has long been the center of oil production. This follows from the paucity of scientific research on the identified problem, including in aspects of the development of production and processing technology, ownership of oil fields and volumes of extraction of mineral raw materials. The aim of the study is to fill the gap by systematizing the available information on crude oil production and refining in the historical context. The results of the study include the formulation of production prospects in the North Caucasus using the example of the Republic of Chechnya and The Republic of North Ossetia – Alania, an assessment of the role of Russia in the development of crude oil production and the role of the oil industry in ensuring the efficient functioning of the economy. The article indicates a new direction for reducing the cost of oil and increasing its competitiveness due to the benefit of associated production products by the example of the integration of underground processes of oil pyrolysis and leaching of metals from the host rocks.
A Markov-switching dynamic regression analysis of the asymmetries related to the determinants of US crude oil production between 1982 and 2019