Why the current oil boom for Arab states may be their last ...Egypt

Abu Dhabi CNN — The oil boom brought about by the Ukraine war has made energy-rich Middle Eastern countries extraordinarily wealthy once again. But experts warn that it may be the last such upswing. The energy price spike triggered by the war lifted the Gulf states out of an almost decade-long economic slump that saw them cut spending and go into budget deficits as their economies shrank. Russia’s invasion of its neighbor shot the value of crude to an eight-year high. Gulf states went through oil booms in the 1970s and 1980s, and then another in the early 2000s. But changing attitudes toward energy consumption mean that such cycles may no longer be tenable, and Gulf states need to be pre

Hence then, the article about why the current oil boom for arab states may be their last was published today ( Tuesday 20/09/2022 - 12:04 PM ) and is available on EGYPT INDEPENDENT ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Why the current oil boom for Arab states may be their last )

Last updated : 20 September 2022 clock 12:04 PM

Also on site :

Why the current oil boom for Arab states may be their last ...Egypt

Commonwealth Games 2026 Day 1 Live Updates: India to contest in 7 medal events

Christine Vachon, Ewan McGregor & Sarah Brocklehurst Among Names Set For Edinburgh Film Festival’s 2026 Industry Programme

Wall Street and GOP not impressed by Trump’s plan to charge extra for early Truth Social access

How a Wisconsin community is reacting to a fatal police shooting

Sooryavanshi 18-ball fifty tops ‘tremendous’ India T20 win against Zimbabwe

‘Significant benefit’ expected as US removes tariffs on Scotch whisky exports

Two tractor-trailers and at least one car crash on I-490 in Perinton

WHO launches seven strategies to prevent drowning

Commonwealth Games 2026: Para-athlete Sagar Thayat opens up on his journey & inspiration

Japanese shoppers drive up jewelry sales to a record

France orders evacuation of tourist spot as hundreds flee wildfires by boat

‘The demographic dividend of the last 40 years is ending’: J.P. Morgan says the world is running out of the two things that kept interest rates down

'Reckless': CJI Surya Kant rejects reports of refusing hearing on police action against students

Chinese ship shoots water cannon at Philippine vessel with CNN crew on board near flashpoint shoal

Dolly Parton's Vibrant 12-Piece Mosaic Dinnerware Set Is So Whimsical, and It's on Sale for Under $60