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Why the Middle East won't quit oil

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Kate Ferguson
February 26, 2024

No region in the world has been as profoundly shaped by oil as the Middle East. Now times are changing — oil has fallen out of favor and Gulf countries are diversifying their economies. Will investing in renewables actually translate into quitting fossil fuels?

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Image: Waldemar Thaut/PantherMedia/imago imagesImage: Waldemar Thaut/PantherMedia/imago images

Business Beyond — going beyond the headlines

The global economy, explained. Business Beyond dives into the most relevant cross-border business stories of today, unraveling economic threads, from trade wars to the global race for AI dominance.

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