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As with GDP, the singular habits of the United Arab Emirates (ARE) could also be defined by its diversification in direction of a service economic system, which helps in providing different revenues to its government—see Figure 6 on the share of oil-related sectors in the economy and other work 27 for a dialogue on Dubai and the United Arab Emirates.
The 2014 fall in oil costs might be attributed to a decrease demand for oil in Europe and China, coupled with a gentle provide of oil from OPEC. A brief resumption of Libyan exports from mid-2014 was a serious trigger for the oil value slide, but prices continued to fall even after Libyan production tumbled again in the fourth quarter of 2014.
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Lady Gaga Describes 1st Time She Heard Bradley Cooper Sing For 'A Star Is Born' of 2014 was the newest manifestation of a tidal ebb and stream in oil price volatility that has occurred every three years or so since at least the mid 2000s.