no, its what dubai is known for
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Although Dubai's economy was built on the back of the oil industry, revenues from oil and natural gas currently account for less than 6% of the emirate's revenues.It is estimated that Dubai produces 240,000 barrels of oil a day and substantial quantities of gas from offshore fields. The emirate's share in UAE's gas revenues is about 2%. Dubai's oil reserves have diminished significantly and are expected to be exhausted in 20 years. Property and construction (22.6%), trade (16%), entrepôt (15%) and financial services (11%) are the largest contributors to Dubai's economy.
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