Middle East's Natural Resource Paradox: Oil Abundance Meets Water Scarcity

The Middle East and North Africa region is often associated with oil production, but it's not the only game in town. In fact, the region holds some of the largest and cheapest-to-produce oil and gas reserves on the planet.

Saudi Arabia alone has an estimated 267 billion barrels of proven oil reserves, Kuwait has more than 100 billion, and the UAE has close to 100 billion. At current production rates, those reserves are expected to last many decades. The Gulf Cooperation Council states, which include Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain, collectively hold some of the largest oil and gas reserves.

However, even within the Gulf, there are contrasts. Bahrain has very modest oil reserves compared with its neighbors and produces only a small fraction of the barrels Saudi Arabia does. Oman has less oil than the big Gulf exporters, but more gas and minerals, and it has invested in logistics and industry.