Click here to download the infographic
Facing the threat of a super cycle
While stimulus efforts will benefit the region’s economies, rising costs are inevitable
For a moment it felt like the end of the world when oil prices turned negative last year. Gripped by the panic of the early stages of the Covid-19 pandemic, it was hard to envisage that, just over a year later, fears of a return to inflation would prompt Saudi Energy Minister Prince Abdulaziz al-Saud to publicly warn that a super cycle of high oil prices is now a real danger.
“A super cycle in oil prices could be seen on the back of the absence of new investments in exploration,” the minister was reported as saying at the Robin Hood Investors Conference on 16 June. “I think it is my job, and others’ jobs, to make sure this super cycle does not happen.” Read more here
The quandary of oil hitting $100 a barrel
Subscribe to MEED |
You might also like...
Red Sea Global awards Marina hotel infrastructure
18 April 2024
Aramco allows more time to revise MGS package bids
18 April 2024
Morocco tenders high-speed rail project
18 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.