Amid an increase in global demand and concerns over key supplies, global oil prices are approaching $100 per barrel for the first time since 2014. But, with prices rising, what does this mean for the renewable energy transition, especially in Gulf countries?
On the back of higher oil prices and a stronger global economic environment, the Middle East returned to growth in 2021, with a number of governments taking the opportunity to implement long-term plans aimed at diversification and modernisation.
Oman’s economy was heavily reliant on hydrocarbons when the pandemic began, creating fiscal pressures as demand and prices fell.
Oman’s post-pandemic priorities are focused on developing the private sector, accelerating diversification and reducing the national deficit.
With connectivity being widely recognised as a key driver of the post-coronavirus economic recovery, GCC countries are poised to benefit from the expansion of their 5G networks.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
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