The Emirates Diplomatic Academy has released an EDA Insight policy brief titled Global Trends in Oil and Energy: Implications for the GCC and Foreign Policy Responses. The Insight examines how global energy markets are evolving, what this could mean for Gulf oil exporters and how these countries could respond through the means of foreign policy. It presents ten key oil market-related trends, assesses their implications for the UAE and other key GCC exporters, and presents several possible foreign policy responses.
The Insight concludes that the GCC countries’ foreign policy and diplomacy can play a role with regard to: responses to changing demand patterns, and managing the changing producer–consumer relations; managing changing producer-producer relations; and maximising the chances of economic success in a context of uncertainty over future oil demand and prices.
The brief is the outcome of a joint workshop organised between the Oxford Institute for Energy Studies (OIES) and EDA, in May 2017, under the title Global and Regional Energy Trends: Implications for the UAE and Foreign Policy Responses. It draws from discussions at the workshop and in particular ideas and data presented by Dr Bassam Fattouh of OIES.
Please note that EDA’s research outputs do not necessarily represent the views of the UAE government but seek to address issues that foreign-policy experts and practitioners both in the UAE and worldwide will find informative and relevant.