Fixing the oil crisis might not fix the Persian Gulf

解决石油危机可能无法解决波斯湾问题。

The Indicator from Planet Money

2026-04-16

8 分钟
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If the Strait of Hormuz completely reopens, it still might not be enough to restart the economies in the Persian Gulf. Many countries there have been hammered by the oil crisis. And although allowing ships through would stanch the immediate bloodletting in the energy sector, other sectors might not spring back so quickly. Tourists are visiting less. Property markets are at risk.  On today’s show, we survey the economic damage to countries in the Gulf. And try to get a sense of the long-term economic implications.  The Indicator is launching a newsletter! The very first email goes out this Friday. Be among the first and sign-up now: npr.org/newsletter/indicator  Come see Planet Money live on stage! 12 cities. Details and tix here: planetmoneybook.com/#tour Related episodes: Think the oil shock is bad in the US? Look hereHow are drivers riding out the gas crisis? Will Trump’s shipping insurance plan work? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy
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  • NPR.

  • This is The Indicator from Planet Money.

  • I'm Patti Hirsch.

  • And I'm Waylon Wong.

  • The war with Iran has been devastating for Iran and the Iranian people.

  • But it's not just Iran that's been affected.

  • The fallout from the war has hammered the global economy,

  • and it 's becoming potentially ruinous for all of Iran's neighbors in the Persian Gulf.

  • Oil and gas revenues are the most obvious part of this story, of course.

  • They account for more than 90% of government income in Iraq and anywhere between 40 and 90% of government revenues

  • in the Gulf Cooperation Council, or GCC, countries.

  • I'm going to list them by physical size now, Willian, if you don't mind.

  • Saudi Arabia, Oman, and the UAE, those are the big ones.

  • And Kuwait, Qatar, and tiny but still economically very powerful, Bahrain.

  • I like that geography lesson.

  • It was helpful.

  • They have all had their energy exports choked off by the closure of the Strait of Hormuz.

  • But the war has affected more than just oil and gas.

  • And it 's the damage to non-energy sectors,

  • tourism, real estate, finance, that represents a real long-term threat to these economies.