The Middle East is well known for sheltering oil wealth in its basement. A real instrument of strength, the petroleum product has become a means of pressure to communicate. The strategic position also brings great assurance. All the great nations of the world are getting this black gold from the Middle East. Anyway, this situation has its pitfalls. This nation faces conflict situations that are very difficult to handle until then, such as the presence of terrors on the spot. This facet denotes negative impacts on the world economy. What are the stakes of oil in the Middle East? What is the weight and bottom of oil in the Middle East? The explanations :
An economy dependent on oil
The major source of wealth in the Middle East comes from the production and export of oil. A lot of money comes in and feeds the state coffers. In addition, the massive influx of international investors is a good thing for the local economy. They do not hesitate to inject huge funds just for this product.
The economic situation is so blinding. The activity rate is very high. Unemployment remains at a standstill. For example, the Saudi state vault feeds on direct or indirect exports from its oil exploitation.
Its GDP reaches thirty percentages. On the other hand, the variability of the oil price, the political tensions or the presence of the terrorist groups are a threat for the supply of oil. This is an important issue because the country is the largest oil suppliers in the world.
The weight of oil in the Middle East
Powerful foreign oil companies are fearing the power of the Middle East. The latter holds a large share of production worldwide. Compared to other emerging nations of South America, it has a huge advantage.
Not forgetting its influence, it manages to get himself heard before international institutions. Aware of this grip on Western states, some minority groups become power towards other goals. They behave in a strange way and hurt the country in their own way.
The instability provoked by local terrorism is a hard blow to the supply. In order to protect themselves, the local government is forced to have recourse to the use of weapons. The region has become a powerful armament market next to oil, according to an oil expert Tarek Bouchamaoui. (https://www.tarekbouchamaoui.com/en/home/)
The bottom of the oil
The Middle East is achieveing a very rapid economic development. Despite of that, it still seems that it is difficult for this country to maintain a sustainable economic development. Possession of oil denotes its lots of weakness.
In recent years, this country is experiencing a phenomenon that is difficult to control. Corruption is gaining ground and experiencing a sharp increase. The way of life of the population is upset. It changes habit and its behavior tends towards consumption.
Everything that comes out of the non-luxurious is rejected. Yet resources will run out one day. Aware of this situation, Tunisia has taken steps towards this goal. The consequences are enormous if the country does not anticipate from the start, says a petroleum specialist in the Middle East, Tarek Bouchamaoui.