Could Freelance Gigs Be Better for the Arab Economy than Oil?

The inflation rate in the Middle East is now estimated to be 8.8% in 2020. With Egypt, possibly the fastest growing Arab country, growing at only 2%, most oil producing countries in the region are seeing economic contractions. The combination of Covid-19 hitting the local population and the oil decline has severely affected this region.

Arab oil exporters are forecasting oil supply cuts of about 50% in 2020 and 2021, levels that have been approved by OPEC agreements.  The combination of significant cuts in production, $42 a barrel for oil, and Covid affecting local marketplaces, will have a significantly negative impact on regional economies.

Trump to Saudis: Cut Oil Production or Lose Military Support

US President Donald Trump allegedly gave the Saudi administration an ultimatum to stop the infamous price war with Russia. On April 2, Trump apparently made a phone call to Saudi Crown Prince Mohammed bin Salman (MBS), letting him know that unless the Organization of the Petroleum Exporting Countries (OPEC) cut oil production, he would allow lawmakers to go ahead and legislate a US troop withdrawal from the kingdom.

The New Oil Deal – Is Putin Playing Chess and Will Deal Fall Through?

Under the new Saudi- Russo oil deal, Saudi Arabia and Russia lead the record for oil cuts as part of the agreement committed by 23 countries to withhold 9.7 million barrels a day from markets. Western publications, including The New Yorker, ran articles this week with headlines such as “How the Russian-Saudi Oil War Went Awry—for Putin Most of All.”

Oil Prices Fall Despite OPEC Plus Agreement

Global oil demand has fallen by 30 million barrels a day due to the outbreak of the coronavirus, which has quarantined nearly half of the world’s population. Another result has been a sharp drop in the global economy, for which the world was seemingly overdue. However, OPEC Plus has only agreed to cut production by 10 million barrels for the two months of May and June of this year.

AMLO Scores Major Political Victory with OPEC

Mexican President Andres Manuel Lopez Obrador has won a major economic victory for his country in the face of fierce pressure from other OPEC countries. US President Donald Trump recently brokered a deal to have members of the group cut oil production. AMLO, however, refused to cut oil supply by more than 100,000 barrels per day, a move that threatened to reverse progressive talks within the union

Saudi Arabia and Russia Establish New Path in Energy Markets

Onсе Saudi Arabia аnnоunсеd thе OPEC+ agreement to reduce wоrld оіl production bу nеаrlу 10 реrсеnt, оіl prices іn futurе соntrасtѕ in Aѕіа rose аftеr a fеw hоurѕ. Obѕеrvеrѕ еxресt that thе еаgеrnеѕѕ of thе mаjоr рrоduсеrѕ to rеасh thе bіndіng agreement before ореnіng the mаrkеtѕ in the dealings оn the first dау оf the wееk wоuld support рrісеѕ above thе $30 реr barrel bаrrіеr.

US-Saudi Oil Alliance – History Repeats Itself and Not in the Positive Way – What’s Ahead?

The US Department of Energy is urging the administration of US President Donald Trump to form an alliance with Saudi Arabia in an attempt to regulate world oil prices, which could lead to Saudi Arabia withdrawing from OPEC. This information became available via The Wall Street Journal which claims that supporters of the US oil Alliance with Saudi Arabia are calling for stabilizing energy prices and preventing their collapse, which occurred after the OPEC talks in Vienna in early March.

Israel Roundup: Country in Lockdown, Gantz to Become PM

With the news of a shut down in California, the most highly populated state in America, there is no other way to receive this news in Israel but with shock. Israel and America are partners in the work of building this world to last for another thousand years with peace and health. President Trump began his administration with the goal of reaching global peace but received opposition from the liberal Democrats.

Coronavirus: Saudi Arabia Announces Business Package, Suspends Travel

Sаudі Arаbіа hаѕ tаkеn a numbеr оf decisions ѕuрроrtіng іtѕ country’s есоnоmу, tо соuntеr the fіnаnсіаl аnd economic effects of thе Cоrоnаvіruѕ. Thе gоvеrnmеnt hаѕ ѕеt 50 bіllіоn rіуаlѕ ($13.32 bіllіоn) durіng the сurrеnt рhаѕе, to support and enable thе mеdіum and small еntеrрrіѕе ѕесtоr, іn аddіtіоn to ѕuрроrtіng the fееѕ оf роіnt of ѕаlе аnd e-commerce ореrаtіоnѕ.

Russia-Saudi Oil Price War: Myths, Reality and Global Analysis

This week, one of the main topics around the world is the so called “oil war” between Russia and Saudi Arabia. A myriad of publications are claiming the Russian economy will tank during this oil price war. According to the various economic models, the Russian economical crises is supposed to reach its peak in 2025. That is another reason, beside Putin’s personal aspirations, why he wants to remain in control of Russia. At that point, it could be possible for the West to weaken Russia.