Reform momentum survives Covid
Arabia Monitor Monthly
A slow pace toward a new deal with Iran is encouraging for oil markets, with some forecasts now expecting a steady price recovery over 2021 to possibly hit the USD 70 range. This would be well into the “recovery sweet spot” range for GCC oil exporters. With Saudi Arabia still holding the million-barrel joker card, we feel this recovery has legs, including a likely release of a further 500k bpd at the upcoming OPEC+ meeting on March 4th. In this MENA monthly, we also analyse:
- The roadmap to a new deal between Iran and the US..
- The new wave of reforms sweeping Saudi Arabia, as the kingdom remains committed to its ambitious Vision 2030 plans.
- Sudan’s newly formed cabinet’s bold decisions, as the Central Bank announced a long-expected devaluation of the Sudanese pound, but a number of challenges remain as the country embarks on a rocky transition to democracy.
Florence Eid-Oakden, Ph.D, Chief Economist
Ghalia Al Bajali, Leila Lajevardi, Mingqiao Zhao, Bouchra Abaakil, Analysts
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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