Volatility in Oil Markets to Contribute to Economic Challenges in Middle East: IMF
Arslan Butt • 1 min read
The IMF with somewhat pessimistic data regarding economic growth, this time in the Middle East. Its Regional Economic Outlook report points to rising economic challenges in this region due to global economic growth slowdown and higher geopolitical risks.
In the report, IMF also lists high volatility in oil prices and an increase in public debt as additional reasons for concern in this region. Oil exporters are expected to grow at a slower pace, at 0.4% in 2019, down from 0.6% in 2018.
Meanwhile, WTI crude oil continues to trade bearish over Trump’s plans to impose full sanctions on Iranian oil exports and have OPEC increase oil output to manage overall supply to worldwide markets.