GCC Hydrocarbon Economies and COVID: Old Trends, New Realities

The book explores the impact of COVID-19 on the GCC member states' hydrocarbon sector, analyzing its challenges and socio-economic consequences. It also examines the impact on the region's international relations and the potential fallouts of the oil market crisis.

Format: Hardback
Length: 316 pages
Publication date: 22 January 2023
Publisher: Springer Verlag, Singapore

The book delves into the profound impact of COVID-19 on the GCC member states, shedding light on the challenges encountered by their hydrocarbon sector. However, its discourse extends beyond the immediate challenges faced by the oil and gas industries within these nations. Instead, the contributors aim to examine the far-reaching consequences of these challenges and the subsequent responses on various aspects of the GCC's socio-economic and political development. This comprehensive analysis encompasses the direct impact of the COVID pandemic on the energy sector of the GCC, as well as the socio-economic repercussions of the oil market crisis for the region and its potential implications for international relations in the Gulf.

The COVID-19 pandemic has had a significant impact on the GCC member states, particularly their hydrocarbon sector. The book explores the challenges faced by these states in the context of the pandemic, including the decline in oil prices, reduced demand, and the disruption of supply chains. It also examines the response of the GCC governments to these challenges, including measures such as stimulus packages, tax cuts, and social safety net programs.

In addition to the impact on the hydrocarbon sector, the pandemic has had broader socio-economic consequences for the GCC. The decline in oil prices has led to a reduction in government revenues, which has impacted public spending on infrastructure and social welfare programs. The pandemic has also exacerbated existing social and economic inequalities within the region, with low-income workers and vulnerable communities being particularly affected.

The book also explores the potential fallouts of the pandemic for the international relations of the Gulf. The region has long been a hub for international energy trade and has close ties with countries around the world. However, the pandemic has disrupted these relationships, with some countries imposing travel restrictions and other measures that have impacted trade and investment.

The book concludes by suggesting that the GCC member states need to prioritize sustainable development and diversification of their economies in order to mitigate the impact of future crises and ensure long-term stability. It also calls for greater cooperation and coordination among GCC countries to address shared challenges and promote regional stability.

In conclusion, the book provides a valuable insight into the impact of COVID-19 on the GCC member states and the challenges they face in the post-pandemic era. It highlights the need for a comprehensive and sustainable response to these challenges in order to promote socio-economic development and regional stability.

Weight: 570g
Dimension: 210 x 148 (mm)
ISBN-13: 9789811954610
Edition number: 1st ed. 2023