2020 has been a difficult year for the Gulf. All members of the Gulf Cooperation Council, heavily reliant on oil, have been severely impacted by the economic turmoil of the ongoing COVID-19 pandemic. For no country is this more important than Saudi Arabia, the world’s largest oil producer, which depends …
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In recent years, Saudi Arabia has had a comprehensive plan to reduce the share of oil in its economy, and it is seeking to increase the share of renewable energy in electricity generation. Saudi Arabia currently consumes about a quarter of its oil production, which is expected to remain almost …
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Saudi Arabia has an incredible opportunity to move away from its complete dependence on oil, but it will need to make a number of structural changes to ensure its plans are not derailed. The reality is that the Saudi economy, including the private non-oil related sector, is heavily dependent on …
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