Impact of oil prices on Oman's economy discussed

Muscat: The international conference on the role of oil prices in the future of the economy in the countries of the Cooperation Council for the Arab States of the Gulf has started today to discuss the impact of oil prices on the overall economic performance of Oman and the energy economies in the countries of the Cooperation Council.

A statement issued online by Oman News Agency (ONA), said: “The start of the international conference on the role of oil prices in the future of the economy in the countries of the Cooperation Council for the Arab States of the Gulf, organized by Mazoon College with the aim of discussing the impact of oil prices on the overall economic performance of the Sultanate and the energy economies in the countries of the Cooperation Council. Also the impact of using green fuels as alternatives to oil prices and exploring the future scope of renewable energy development as an engine for economic growth in Oman."

His Excellency Sulaiman bin Hamoud Al Busaidi Deputy Secretary General of the Council of Ministers stressed on the importance of the conference in identifying the results and the reasons that led to the drop in oil prices and the alternatives that exist to get out of this global economic crisis.