What Are The Problems Of Dependence On Export Of A Single Primary Product? A Case Of Oman.
Article from: OGEL Archive issue , in Economic and Commercial Context for Oil, Gas and Energy Law
The changes in the international oil market over the past years have had major effects on the oil exporting countries, whose economies are heavily dependent on oil revenue as the major source of government income and foreign exchange. There is no doubt that without oil revenue much less would have been achieved in the sectors of education, health, infrastructure and modern state-building in any of the oil-exporting countries, particularly within the Oman. However, heavy dependence upon a single commodity, which has a very volatile price on the world oil market, has ...