The Image Of GCC Oil Policy In The Western Media
- By Bassam Fattouh*
Oil receives extensive coverage from western media. This should come as no surprise. Oil is a strategic commodity given that the transport and aviation sectors, the lifelines of the modern economy, are still almost totally reliant on refined products from crude oil. Sharp rises in the oil price can also impact the global economy, with some studies showing that oil price shocks have preceded most recessions in...