Economic Forecasters It's often said that you can't get economists to agree on anything. Well oil economists certainly can't agree on future prices with commentators suggesting anything from $20 to $200. Seldom has there been such a discrepancy in forecasting though the median forecasts seem to be somewhere between $60 and $70. The reemergence of low prices and price instabili
Read More
A report published by the Economic Times revealed that the total oil exports from Iraq had decreased this month with just 2.92 million barrels per day. Production in southern Iraq slipped from its 2.71 million average in March to 2.5 million barrels per day in the first half of April, yet these numbers are still quite impressive in the face of a global oil crisis. Oil product
Read More
SEOUL, April 20 (Reuters) – Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom’s willingness to defend market share at a time when oil markets have staged a fragile recovery. There are worries among some producers that growing output from Saudi Arabia and other members of the Organization of the Petroleum Exp
Read More
Abstract: Despite the tremendous increase in oil revenue and Military Expenditures in the Gulf region after the second and third oil prices revolutions (1980 and 2003), the relationship between them is not studied fully. This paper studies the effect of the oil revenue on the regional security measured by the Military Expenditure in that region. The analysis suggests that oil
Read More
The news from Iraq is not always depressing, though after further scrutiny one becomes apprehensive. A few days ago, the Ministry of Industry (MoI) signed an “in principle” agreement with Royal Dutch Shell to build a petrochemical plant at an estimated cost of $11 billion (Dh40.4 billion) in the Basra region. The plant should be operational in five years, as reported by news a
Read More