Diversification ‘is must to sustain oil price shocks’

Oil & Gas News Worldwide | Jul 1, 2021 at 2:00 AM
  • An AMF study suggests major changes in the economies of Arab oil-exporting countries to be able to withstand the effects of low oil prices and sustain real GDP
  • It assessed the effects of oil price on all other real sectors (other than the oil sector) in nine Arab oil exporting countries, namely Algeria, Bahrain, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, and the UAE.
  • The impact was negative on the construction sector for all countries in both years, except for Bahrain, where it was positive in the first year and negative in the second.