Building a bridge to recovery
Arabia Monitor Monthly
Optimism over vaccines against COVID-19 has rallied oil prices this month, with Brent crude up 14% in November to USD 46 pb. While this still falls short of the USD 60 pb that we believe is necessary for the economic wheels of oil-exporting economies in MENA to turn again, it is at least positive news for these countries. In this MENA monthly, we focus on:
- The need for Saudi Arabia's government to diversify its sources of finance and the role of the Public Investment Fund in offsetting the effects of austerity.
- The financial support Oman has received from Qatar and the expected additional support from other GCC neighbours.
- The renewed fighting in the Western Sahara and the fragile ceasefire in Libya.
Florence Eid-Oakden, Ph.D, Chief Economist
Ghalia Al Bajali, Leila Lajevardi, Mingqiao Zhao, Bouchra Abaakil, Analysts
Robin Mills, Maryam Salman, Qamar Energy
Arabia Monitor’s MENA Monthly publication provides a timely snapshot of most notable recent developments in the dynamic MENA region. Our analysts get past the news to deliver the core, forward looking conclusions that markets-oriented readers look for.
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