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The discovery of vast oil reserves in the Middle East significantly transformed the region's economies. Countries like Saudi Arabia, Iraq, and the United Arab Emirates experienced rapid economic growth and development due to oil exports, leading to increased wealth and investment in infrastructure. This reliance on oil has also created economic challenges, including vulnerability to fluctuating oil prices and the need for diversification. Overall, oil has been a central driver of economic change and geopolitical influence in the region.

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6d ago

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