Recent technological developments and past technology transitions suggest that the world could be on the verge of a profound shift in transportation technology. The return of the electric car and its adoption, like that of the motor vehicle in place of horses in early 20th century, could cut oil consumption substantially in the coming decades. Our analysis suggests that oil as the main fuel for transportation could have a much shorter life span left than commonly assumed. In the fast adoption scenario, oil prices could converge to the level of coal prices, about $15 per barrel in 2015 prices by the early 2040s. In this possible future, oil could become the new coal.
This Selected Issues paper analyzes Norway’s economy that has a maturing oil and gas industry. Norway’s half century of good fortune from its oil and gas wealth may have peaked. Oil and gas production will continue for many decades on current projections, but output and investment have flattened out, and the spillovers from the offshore oil and gas production to the mainland economy may have turned from positive to negative. Thus far, economic policy has needed to focus on managing the windfall, and Norway’s institutions have been a model for other countries. Going forward, the challenges are expected to become more complex.
International Monetary Fund. Asia and Pacific Dept
The report gives statistical data on nominal GDP by economic activity and expenditure, real GDP by economic activity and expenditure, oil and gas production and sales figures, employment by government sector and private sector, consumer price index, composition of government revenue, expenditure and budget balance, central bank survey, depository bank survey, commercial bank loans, financial soundness indicators, Sukuk outstanding and yield, private investment by sector, export and import commodities and countries involved, and FDI of Brunei Darussalam.
International Monetary Fund. Middle East and Central Asia Dept.
In this paper, the statistical appendix lists details regarding the supply and use of resources at current prices, sectoral breakdown of GDP at current prices, sectoral breakdown of real GDP growth, production export and consumption of oil products, production export and consumption of gas products, domestic prices of main energy products, surface area of main crops, crop yields, livestock, industrial production index, ore production, consumer price index, household income, labor force, employment and unemployment, summary of central government operations, sector, etc.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Over the last few decades, the economy of Saudi Arabia has strengthened, as oil prices increased with the rebound in global economic activity. Despite this, vulnerabilities to a sustained decline in the oil price have increased. Executive Directors have commended the authorities for their continued stabilizing role in the oil markets. They have encouraged in creating more job opportunities for nationals and improving access to housing finance. They have encouraged the central bank to continue in strengthening the regulatory and supervisory framework.
Kuwait faced the global financial crisis from a position of strength, owing to expansionary fiscal stance. The economy is expected to grow steadily over the medium term as Kuwait continues to implement the development plan and global recovery supports demand for oil. The near-term macroeconomic policy mix is adequate. The development plan (DP) implementation should be managed carefully. The financial situation of many investment companies remains precarious. Significant progress was made in the implementation of the update recommendations, but further steps are warranted.