Middle East & North Africa Economics

Middle East Economics Update

24 April, 2018

Saudi talk of $100pb oil doesn’t signal shift in oil policy

The recent jump in oil prices to $75pb has been fuelled in part by reports that the Saudi authorities have expressed a desire for prices of $100pb. But we don’t think a fundamental shift in Saudi oil policy is on the cards and, in any case, the authorities are probably well aware that agreeing an extension to the OPEC oil output cuts to push up prices will be fraught with difficulty.

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