On 17 March, the European Commission (EC) laid out two possible scenarios for the movement of the oil price caused by war. In the case of a brief war with minimal disruption to supplies, the EC predicts an initial spike to $41 followed by a fall to $26 by the third quarter and to $21 by the fourth quarter. However, in its worst case scenario, the shock caused by war will last two quarters, during which the price will be between $57 and $52, before falling to $26 by the end of the year.
You might also like...
Contractors win Oman Etihad Rail packages
23 April 2024
Saudi market returns to growth
23 April 2024
Middle East contract awards: March 2024
23 April 2024
Swiss developer appoints Helvetia residences contractor
23 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.