This week’s US election has yet to reach a conclusive result, but some of the potential downside risks facing the Middle East and North Africa appear to have diminished. Meanwhile, OPEC+ seems to edging closer to an extension of its current oil production quotas which will dampen recoveries in the Gulf. In North Africa and Jordan, virus outbreaks have worsened and restrictions are being tightened. The result is that economic recoveries could be even more sluggish than we had anticipated.
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