Oil—A factor promoting or undermining stability in the countries of the Middle East?

Abstract

Oil plays an important role in shaping the political system in the Middle East. The Black Gold’s important role in stabilizing the government, the economy and the social system in the MENA region and especially in significant oil exporting countries such as the Arab Gulf States. In recent years there have been changes in the global oil market that enforced a re-discussion regarding the ability of the oil market to continue to be an important factor in creating stability in the oil countries. The following article seeks to examine the extent to which oil has affected the stability of the oil countries mainly in the Arab Gulf and most of all to try and assess the significance of oil’s decline in status as a major component that drives the economy in countries across the region.