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Policy

High Oil Prices Meet Transition Efforts in Mideast Gulf

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With crude prices hovering around $120 per barrel, Mideast Gulf states are in for their biggest windfall oil revenues in almost 10 years in 2022. The surging income supports countries' strategies to boost upstream investments as they seek to speed up the monetization of their reserves and meet global demand. But countries are also using the newly generated funds to support wide-ranging economic diversification and energy transition initiatives to position themselves as clean energy players in a world that's inevitably moving toward decarbonization.

Topics:
Policy and Regulation, Opec/Opec-Plus, Renewable Electricity , Hydrogen, Carbon Capture (CCS)
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