Oil revenue

Oil revenue refers to the income a country earns from selling its oil reserves to other nations. Since oil is a major globally traded resource, countries with large oil reserves often generate significant income through exports. This revenue can fund public services, infrastructure, and development projects. However, it can also fluctuate due to changes in oil prices, global demand, and production levels. Managing oil revenue responsibly is crucial for ensuring long-term economic stability, especially for oil-dependent economies, to avoid over-reliance on a single resource.