BY: ECONOMIC & FINANCE REPORT…
Cheaper oil is here to stay at least for the time being. It has affected all Opec countries and affected the world as a whole. Now what will be reflected, is how the Middle East will deal with a now way lower and cheaper oil output. Adaptation to the new reality is sure certain to change the GDP outlook and as estimated.
The private sector will have to engage in Middle East productivity and seek other resources to tap into while the bottoming of oil prices continue to plunge. The mere question should be when exactly is the oil prices going to bottom out and then stabilize?