Ras Tanura oil terminal, Saudi Arabia
Saudi Arabia is one of the world’s richest countries. It has accumulated this wealth based on its position as the largest single producer of oil. As this single commodity powers so much of the world in the form of petrol for cars, plastics for packaging, nylon for clothing etc. the importance of this raw material has a huge relevance on the world of business, but is also at its mercy.
With an overreliance on a non-renewable resource together with the demand for the product being derived from the health of the global economy, Saudi Arabia and other Gulf states are not always in control of their own futures.
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