Middle East & North Africa Economics

Middle East Watch

8 May, 2017

Gulf economies better placed to deal with low oil prices

The recent fall in oil prices has reignited fears over the outlook for the Gulf, but as we explain in this Watch these countries are in a better position now to weather a period of low oil prices than at any point over the past three years. One important outcome, though, is that policymakers in the Gulf have softened their stance on an extension to OPEC’s oil production cuts.

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