Failures to reduce oil dependence and generate much-needed jobs are likely to increase social discontent and disruption in the region, possibly stirring conflicts and migration within MENA or to Europe and beyond. Norwegian production of natural gas covers approximately 3 per cent of global demand, however, as an exporter Norway is a significant country. Iraq, Kuwait, and Yemen especially lagged in diversification. The countries that made the most progress on goods exports between 20 were the United Arab Emirates, Oman, and Qatar. Using IMF data on the performance of oil exporters outside the MENA region as a benchmark, goods exports by the MENA countries were on average 5 to 10 percent more diversified in 2014 than in the early 1980s. In 2017, imports provided 19 of the countrys demand for.
#OIL EXPORTER COUNTRIES PLUS#
The most modest declines belonged to United Arab Emirates (up -14.5), Brazil (up -18.3), Norway (up -21.4) and the United States (up -23). Overall, the United States imports more than it exports, making it a net importer of petroleum. The non-OPEC countries which export crude oil are termed as OPEC plus countries, these are the alliance of crude producers, who have been undertaking. Pressures have risen in recent years for oil-rich countries of the Middle East and North Africa (MENA) to diversify exports as they face uncertain oil revenues, growing unemployment among young people, and rising concerns about climate change. Not one among the above top exporters increased their revenues from selling exported crude oil from 2019 to 2020.
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