Lower crude prices will even affect Persian Gulf Arab economies badly: oil expert
A lecturer in international political economy at Regent’s University London says if oil prices fall further even the Persian Gulf Arab members of OPEC will face huge economic problems./ “For the OPEC economies, even the Arab Persian Gulf producers with large assets cushioned up in their sovereign wealth funds, the price at/or about $40 pb will have long-term negative macroeconomic consequences,” Sara Bazoobandi told the Tehran Times./ At a meeting in Vienna late last month Saudi Arabia blocked calls from some OPEC members to curtail oil ...
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