📉 Potential Impacts on Oil Markets and OAPEC Member States<br />Eng. Nourhan Thamer Assi<br /><br />✅ Sustainable Development Goals :<br />Goal 7: Affordable and Clean Energy<br />Goal 8: Decent Work and Economic Growth<br />Goal 9: Industry, Innovation and Infrastructure<br />Goal 13: Climate Action<br />With the global energy transition accelerating, especially toward renewable energy, traditional oil markets are facing serious challenges in terms of demand and price stability. Member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), which rely heavily on oil revenues, may be affected in various ways:<br />✦ Potential Impacts:<br />Gradual decline in global oil demand due to electric vehicles and energy efficiency measures.<br />Fiscal pressures on oil-dependent economies, prompting economic diversification.<br />Increased price volatility as renewable energy becomes more cost-competitive.<br />New investment opportunities for countries rich in solar and wind resources, such as Saudi Arabia and Egypt.<br />✦ Recommendations:<br />Initiate national income diversification strategies.<br />Invest in renewable energy projects both domestically and abroad.<br />Support R&D in clean fuels and low-carbon technologies.<br />Implement long-term economic planning to mitigate future risks.<br /><br />"Al-Mustaqbal University – The No. 1 Private University in Iraq"<br /><br />