Muscat (UrduPoint / WAM – 15 March 2026 AD) Data issued by the Statistical Center for the Gulf Cooperation Council countries indicate that the Gulf Cooperation Council countries continue to strengthen their position as one of the most influential hubs in the field of global energy. MarketsSupported by a broad base of natural resources, advanced infrastructure, and accumulated experience in managing this vital sector.
The Gulf energy strategy is no longer limited to production and export only. It has increasingly shifted towards a more comprehensive approach based on diversifying energy sources, enhancing production efficiency, and expanding renewable energy projects.
Data issued by the GCC Statistical Center provides a general analytical overview of the performance of the energy sector in the region. Added value to the Gulf oil sector at present market Prices I arrived around US dollars 561.2 one billion In 2024, to contribute 24.0% of the gross domestic product, while the value added at constant prices amounted to US dollars 541.9 one billionwhich represents 29.3% of GDP.
The data indicates a 5.4% decline in crude oil prices oil Production in 2024 to reach 16.1 million barrels per day, compared to 17.0 million barrels per day in 2023. Crude oil exports It also decreased by 7.2% to 11.5 million barrels per day, compared to 12.3 million barrels per day in the previous year.
The center offers comprehensive services reading Of performance oil, gasAnd renewable energy sectors in the Gulf Cooperation Council countries through its “Energy Statistics” publication, which indicates stability in gas Production and increasing reserves.
According to the data, it is marketed normally gas Production recorded a slight decrease of 0.4% to reach 442.0 one billion cubic meters for 443.8 one billion cubic meters in 2023.
The report also shows the average annual growth rate of crude oil oil Reserves during 2020-2024 amounted to 30.7%, while the average annual growth rate of natural waters reached gas Reserves reached 1.0%.
In 2024, the GCC countries recorded reserves of 511.9 one billion Barrels of ore oil And 44.3 trillion natural cubic meters gas.
According to global energy indicators for the year 2024, the Gulf Cooperation Council countries contributed 21.8% of global crude oil. oil Production and 26.6% of it exports.
Their contribution also reached 10.0% of natural materials marketed globally gas Production and 13.5% of it exports.
The Gulf Cooperation Council countries account for 32.7% of the total global output oil Reserves and 21.2% of global natural reserves gas Reserves.
The report reveals that the total renewable energy capacity in the GCC countries reached 14.2 gigawatts in 2024, which represents only 0.3% of global capacity.
In addition to the Gulf Cooperation Council countries electricity Interconnection projects achieve economic savings of US dollars 540.5 millionwhile the size reached electricity Exchanges between member states amounted to 1,795.9 gigawatt-hours.