gcc oil

BUSINESS OUTLOOK: So Long To Oil Dependency

GCC states must diversify their economies BY Mohamed Zidan More than two months ago, a natural disaster hit Alberta, the oil-rich Canadian province, causing interruption in production for weeks. The wildfire witnessed by the state was devastating to the extent that 90,000 people were evacuated and human activity was completely halted. At the same time, large

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Low Oil Prices: A New Opportunity for Gulf Cooperation

BY Omar Al Ubaydli When the founders of the Organization of the Petroleum Exporting Countries (OPEC), convened in Baghdad in 1960, they made life difficult for themselves by violating virtually all of the ideal conditions for operating a cartel. That is why, 55 years later, Saudi Arabia has made the right decision by maintaining its production,

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