The collapse of oil prices since mid-2014 has shaken many of the cornerstones of the oil markets. For decades, oil-importing countries have relied on the oil-producing economies of the Gulf Cooperation Council (GCC) to balance the global market. At the same time, oil has financed the rapid development of the GCC nations, and, as such, the modern history of oil and the Middle East cannot be disentangled. But the oil market has not been standing still. As part of its efforts to help improve understanding of the challenging issues emerging from the new oil world, the Center on Global Energy Policy organized a discussion of the global market, domestic economic and geopolitical considerations facing the Gulf Cooperation Council (GCC) countries with a distinguished set of experts:
