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Media ID: 55337988
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This file photo shows a worker walking on an oil pipeline at the Khurmala oil field on the outskirts of the city of Erbil, in Iraq’s Kurdistan region, on December 4, 2013. (Reuters/Stringer)


Opinion: The Boon and Bane of Cheaper Oil

Opinion: The Boon and Bane of Cheaper Oil

The steep decline in oil prices presents new economic realities for countries in the MENA region. Global oil prices have declined by more than half from their peak last summer, to levels not seen since a short period in 2009. The combination of unexpectedly higher oil...
Media ID: 55323120
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The Gulf Cooperation Council’s (GCC) Assistant Secretary General Abdullah bin Juma al-Shibli, United Arab Emirates’ Oil Minister Suhail Mohamed Al Mazrouei, Qatar’s Minister of Energy and Industry Mohammed Saleh al-Sada, Saudi Oil Minister Ali al-Naimi, Bahrain’s Minister of Finance Sheikh Ahmed Bin Mohammed al-Khalifa, Kuwait’s Minister of Finance Mustafa al-Shamali and Oman’s Oil Minister Mohamed bin Hamad Al Rumhi pose for a group photo during a meeting of Gulf Arab oil ministers in Riyadh September 24, 2013. (REUTERS/Faisal Al Nasser)


Media ID: 55321962
Caption:

Omani Oil Minister Mohamed bin Hamad Al Rumhi (far right) poses for a group photo with colleagues at a meeting of Gulf Arab oil ministers in Riyadh September 24, 2013