I generally view "data is the new oil" arguments as a sign that the journalist doesn't know what they are talking about, especially if they can't characterise what data they are referring to or why it is valuable.
More likely, this is about control of the recommendation algorithm, and therefore control of the narrative.
In the US, for the most part, the app must do both surveillance and coercion, which is why the kids prefer the Chinese app.
Oil isn’t useful in its raw form either. Do you think we’d be plagued by cookie banners on almost every single website if they didn’t think collecting data was crucial to their business? Not to mention AI, where the analogy is reinforced for obvious reasons.
So data being the new oil is not a terrible analogy. However, I have to agree with you that the reasoning and justification from journalists is often fluffy and completely off-mark. I’d cut them a bit of slack, they’ve been through a complete economic massacre and talent exodus precisely as a result of this new economy.
https://www.middleeasteye.net/news/why-people-think-us-effor...