Gulf nations inching towards greater ‘wealth and power’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Gulf nations inching towards greater ‘wealth and power’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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Oil and gas boom occurring alongside deeper market trends

KUWAIT CITY, Sept 26: The indications are clear and strong that the Gulf states will likely remain as important in global affairs in the coming decades as they were in the twentieth century, this is what a report prepared by The Economist concluded on the global energy crisis and geopolitics, and how the war in Ukraine reshaped the oil and gas market in the world, so that the countries of the region will be the most prominent player in this scenario, adding that a new Gulf is emerging on the global scene, reports Al-Qabas daily. For this reason, politicians in Western countries, who are facing an energy crisis and high costs of living, are flocking to the Gulf states, the last of whom is Olaf Schulz, the German chancellor, as Germany has been searching since Russia cut off gas from it for alternative markets that it can import energy from.