Region to see modest growth this year, amid rising uncertainty Oil exporters face fiscal challenge and need to diversify their economies Oil importers see gains, but should seize opportunity provided by low oil prices to enact needed reforms The Middle East, North Africa, Afghanistan, and Pakistan region as a whole continues to see subdued growth, … Continue reading
There are two great myths used in recent years to convince the world of imminent catastophe unless we drastically change our living style in the direction of austerity. Both myths are based on scientific fraud and uncritical propagation by sympatheic mainstream and even some alternative media. One is the idea that world climate is warming, … Continue reading
By David Mednicoff What might decreasing oil revenues mean for the Persian Gulf oil states? With low crude prices, high supply and global economic challenges, it is natural to wonder whether the level of dependence on petrodollars by Saudi Arabia and the other Gulf Cooperation Council (GCC) countries bodes ill for their future. Perhaps the most … Continue reading
By Michael Snyder Billions of barrels of oil have been discovered in Israel, and this discovery could essentially make Israel energy independent for many decades to come. But there is just one problem. This discovery was made in the Golan Heights. If you are not familiar with the Golan Heights, it is an area that … Continue reading
By South Front Global Research, August 22, 2015 , Companies’ sources (data from websites accordingly) and EIA. Natural gas has limited and expensive transport options. As a result, natural gas pipelines are constantly used as a tool of political pressure and bargaining. One of the most notable battlefields is the European continent, where Russia has exerted … Continue reading
Saudi Arabia may have a budget deficit of 19.5% of GDP this year unless it rapidly changes course and accommodates the new, cheap oil world, according to the IMF. Alas, the Kingdom has almost zero short term incentive to do so. A generous social contract rapidly fraying Saudi Arabia’s Kingdom is topped by the wealthy Saud … Continue reading
Oil prices dropped over two percent on Friday, following Goldman Sachs predictions of crude at $20 a barrel due to global oversupply. Saudi Arabia, the world’s largest oil producer, added to the pressure, dismissing OPEC’s emergency summit, which was aimed at stopping crude’s slide. October Brent fell $1.03 to $47.86 a barrel in Friday’s trading … Continue reading
Crude oil prices fell sharply during July and into early August, pressured by an abundance of supply and a strong US dollar. By early August, global benchmarks had sunk around 25% below end June levels. At the time of writing, ICE Brent was trading at around $49 /bbl while NYMEX WTI was at $43.30/bbl. Global oil … Continue reading
Saudi Arabia plans to raise $27 billion on the bond market by the end of 2015, according to the Financial Times. The country needs a $106 per barrel crude price to balance the budget. The bond sale is an attempt to mitigate the 47 percent decline in oil. Riyadh is planning to issue $5.3 billion in bonds … Continue reading
President Barack Obama has warned that without the Iran nuclear deal, there will be another war in the Middle East. He said that those who voted for the War in Iraq are now opposing diplomacy with Iran. Many of the same people who argued for the war in Iraq are now making the case against … Continue reading