Abstract
This study analyzes the Middle East’s oil industry with the SWOT technique, by investigating its strengths, weaknesses, opportunities, and threats. The industry’s strengths include its reserves, low production costs, and the ability to form alliances with other oil-producing countries. Meanwhile, geopolitical risks and the region’s dependence on oil serve as weaknesses of the industry. Opportunities encompass efforts to develop technologies for the clean use of oil and an expansion of the global petrochemical industry. However, the shale revolution and climate change pose serious threats. Overall, the status of the Middle East’s oil industry will not quickly reduce soon. The oil-producing countries in the Middle East are trying to achieve their goals of balanced growth by overcoming the weaknesses and threats, and by taking advantage of the strengths and opportunities.
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