GCC Maintains 21.8% of Global Oil Output Despite 5.4% Production Dip - Diina Dubai - Your Intuitive Insights to everything Local

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Author name: Emirates 24|7

GCC Maintains 21.8% of Global Oil Output Despite 5.4% Production Dip

date Mar 16, 2026

the value added of the Gulf oil sector at current market prices reached approximately $561.2 billion in 2024, accounting for a 24.0% share of the regional GDP. crude oil production fell by 5.4% during 2024 compared to 17.0 million bpd in 2023.

Source: emirates247.com

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