January 28, 2016
The Impact of Low Oil Prices on the Middle East: Fiscal Crises, Corporate Transitions, and Geopolitical Standoffs
By Global Energy Center
The collapse in crude oil prices since mid-2014 has shaken the foundation of global energy markets, with sweeping economic and political implications for the Middle East. Amidst falling oil revenues, governments from the Gulf to Iraq and beyond face fiscal crises, market upheaval, disruption of traditional ways of doing business, challenges to longstanding fuel subsidy programs, and slumping economic growth. In the midst of this volatile landscape, energy producers in the region face an uncertain future that will have ramifications in the years to come. The discussion touched on the following questions and more:
- How are low prices impacting the economic health of and internal political dynamics in Saudi Arabia? What is the future of Saudi Aramco?
- How are other major producing countries across the GCC, Iraq, Iran, and North Africa adapting and faring in today's price environment?
- Are fiscal constraints inducing major changes in government policies and/or driving macroeconomic and energy policy trends across the Middle East?
- To what degree are low oil prices driving geopolitical calculations in the region?
View the recorded webcast of the event below: