{"id":421669,"date":"2021-06-22T10:04:49","date_gmt":"2021-06-22T04:34:49","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=421669"},"modified":"2021-06-22T10:49:58","modified_gmt":"2021-06-22T05:19:58","slug":"gulf-states-will-take-at-least-10-years-to-end-oil-dependence-moodys-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gulf-states-will-take-at-least-10-years-to-end-oil-dependence-moodys-2\/","title":{"rendered":"Gulf states will take at least 10 years to end oil dependence: Moody&#8217;s"},"content":{"rendered":"<p>Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the 2014-2015 oil price shock, Moody&#8217;s said.<br \/>\nReliance on the energy sector will be the &#8220;key credit constraint&#8221; for the six countries forming the Gulf Cooperation Council (GCC), the ratings agency said in a report on Monday. <\/p>\n<p>&#8220;If oil prices average $55\/barrel &#8230; we expect hydrocarbon production to remain the single largest contributor to GCC sovereigns&#8217; GDP, the main source of government revenue and, therefore, the key driver of fiscal strength over at least the next decade,&#8221; it said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the 2014-2015 oil price shock, Moody&#8217;s said. Reliance on the energy sector will be the &#8220;key credit constraint&#8221; for the six countries forming the Gulf Cooperation Council (GCC), the ratings agency said in a report on Monday. &#8220;If oil prices average $55\/barrel &#8230; we expect hydrocarbon production to remain the single largest contributor to GCC sovereigns&#8217; GDP, the main source of government revenue and, therefore, the key driver of fiscal strength [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-421669","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=421669"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/421669\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=421669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=421669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=421669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}