Research Methods Assignment Example | Topics and Well Written Essays - 1500 words

Research Methods - Assignment Example The oil export business has also allowed the countries to participate in the international trade and thus the countries are developing in order to compete with the developed nations (Narayan and Smyth, 2007). Since oil producing sector is the most important sector in the middle-east and the GCC nations this is considered for carrying out a detailed study. The aim of the research is to carry out an overall analysis of the performance of the oil producing companies of middle-east by focusing mainly on the GCC nations and the revenue generated them. Since crude oil is on high demand in the international market hence it would prove to be an interesting topic of discussion for most of the researchers. The Gulf Cooperation Council (GCC) countries have a number of features in common that is their structural economic features as well as there are significant differences. The common features comprise of high dependency of the other nations on the hydrocarbon as well as the oil production of the middle-east and the GCC nations (Arouri and Rault, 2012). The countries are expected to earn a large portion of their revenue from the oil export business. Oil producing companies face challenges due to the fluctuations in the oil prices where some of the oil importing countries reduce their dependency on the oil and hydrocarbon and set up a separate non-oil sector. There is a possibility of economic diversification that takes place in the international market that would in turn reduce the demand for oil. Study says that, the member nations of GCC are adopting the method of economic diversification with UAE and Bahrain, acting as the most advanced in this field of economic diversification. According to the study, the GDP growth in the non-oil sector has exceeded that of oil producing sectors in the international market, but the non-oil sector are controlled by the government expenditure which is further dependent on