Oil Transition Sparks Concern Over Global Instability and Conflict

The global shift away from oil may lead to instability and conflict in vulnerable countries, according to research by the E3G think tank.

Countries such as Nigeria, Iran, Angola, and Algeria are particularly exposed due to their heavy reliance on oil revenues, limited economic diversification, and insufficient financial reserves.

The report warns that unless governments and international institutions act urgently, falling oil prices could trigger migration, political instability, and economic crises in these countries.

E3G forecasts that oil revenues could decline sharply after 2030, with an estimated 87% drop in Algeria and more than 60% in Nigeria.