1、ENERGY MARKETS,TRADE AND TRANSITION23TABLE OF CONTENTSExecutive summary and key findings 4Oil market dynamics and outlook 7Middle East energy landscape 16Energy transition:Scaling up ambitions 22 at the global levelEnergy transition:Hydrogen in focus 38Energy transition:Middle East and UAE 46Key rec

2、ommendations 605This publication serves as the first in-depth DMCC thought leadership report on the global and regional energy sector.Building on unique business insights and analysis from leading experts in the field,this Future of Trade special edition delves into the central forces shaping the wo

3、rld of energy today from market trends and prices,oil and gas movements,the rise of low-carbon and renewable energy technology,and the global energy transition.It looks at the main drivers of the transition assessing through the use of cutting-edge modelling techniques,different scenario pathways an

4、d their outcomes.In particular,this report looks at the role of the MENA region,and specifically the UAE,evaluating the emergent competitive advantages in this highly dynamic landscape.The main findings of this report:The global energy sector remains in a period of flux,with high oil prices and supp

5、ly constraints creating uncertainty in markets and for consumers.Meanwhile major industry players,including international and national oil companies,continue to navigate the energy transition with major investments in clean energy technologies.Competitive advantages are crystallising at the regional

6、 level,namely in the Middle East,which benefits from abundant natural energy reserves and a favourable policy climate.Despite clear challenges,there are considerable growth opportunities in key energy market segments,especially clean hydrogen and low-carbon technology spaces.EXECUTIVE SUMMARY467ADDI