Middle East & North Africa Economics

Middle East Economics Focus

22 November, 2016

Saudi Arabia unlikely to take strong action to boost oil prices

The oil cartel, OPEC, is likely to reach some sort of face-saving deal to cut oil output at its meeting next week, but we think claims that Saudi Arabia has abandoned its strategy of protecting its share of the oil market are wide of the mark. As we argue in this Focus, the Kingdom is unlikely to take aggressive action to support oil prices over the coming years. Since oil prices started to fall in mid-2014, the Kingdom has raised output as policymakers’ focus has shifted to protecting marke

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