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Learning to Live with Cheaper Oil
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Learning to Live with Cheaper Oil

Policy Adjustment in Oil-Exporting Countries of the Middle East and Central Asia

Martin Sommer, Greg Auclair, Armand Fouejieu, Inutu Lukonga, Saad Quayyum, Amir Sadeghi, Gazi Shbaikat, Andrew Tiffin, Juan Trevino and Bruno Versailles
IMF, 2016
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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical
  • Innovative

Recommendation

Low oil prices have brought profound and perhaps lasting changes to the economies of oil-producing countries in the Middle East and North Africa and in the Caucasus and Central Asia. According to regional experts at the International Monetary Fund, yawning budget deficits and slowing growth have replaced budget surpluses and economic expansion in these nations. getAbstract recommends this authoritative report on what’s next for these economies to executives, analysts and investors.

Summary

New energy production in the United States, decelerating growth in China and recession in Russia, a strengthening dollar, increasing conflict across the Middle East, output restrictions by some nations, and rising Iranian oil exports have dimmed the fortunes of many oil producers. Affected economies in the Middle East and North Africa (MENA) and in the Caucasus and Central Asia (CCA) will continue to endure depressed oil prices. With futures markets pointing to prices of $50–$55 a barrel by 2020, relief is nowhere in sight.

Economic growth has slowed among many of the oil-exporting nations. In the Gulf Cooperation Council (...

About the Authors

Martin Sommer et al. are members of the International Monetary Fund’s Middle East and Central Asia department.

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