Middle East & North Africa Economics

Middle East Chart Book

29 March, 2017

Recent dip in oil prices not a major concern for the Gulf

The recent drop in oil prices, from around US$56pb at the start of March to just over US$51pb at present, is unlikely to be a major cause for alarm in the Gulf. For one thing, oil prices are still above their average of US$45pb recorded last year. Meanwhile, after a couple of years of deep fiscal austerity, most countries are now in a much better position to confront a prolonged period of low oil prices. Twin budget and current account deficits have started to narrow, reserves are still large and

Access this publication and more, take our free trial subscription today.

Free Trial

Already a subscriber? Simply log in to view this article.

Save to Library

New Book

Making a Success of Brexit
and Reforming the EU

by Roger Bootle

"Outstanding - engaging - absorbing"
Daily Telegraph

Buy now on Amazon
We use cookies to ensure you get the best experience on our website. Read our Cookie Policy for more information.