Middle East & North Africa Economics

Middle East Economics Update

12 November, 2018

What to make of Saudi Arabia’s push for oil output cuts

Saudi Arabia’s push for a fresh round of oil output cuts isn’t a done deal and a sustained unilateral cut is unlikely. Even so, it adds to the evidence of a more erratic approach to oil policy under Crown Prince Mohammed bin Salman. And while there could be a boost to the economy from looser fiscal policy, on balance a decision to reduce oil output poses a downside risk to our GDP growth forecasts.

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