Why The Next Oil Price Cycle Is So Important For Saudi Arabia

Time is running out for oil-dependent nations. The world is transforming quickly and climate change is accelerating oil’s demise even faster. Despite fossil fuel’s so-called imminent fall of grace with buyers, most consumers will require oil and gas in the foreseeable future. Before the Coronavirus devasted the global economy, oil consumption was slated to grow slightly until 2030 and remain stable for the next couple of decades. Although it is unclear how demand will develop after the current crisis, certain energy-dependent nations…