BRUNT OF CORONAVIRUS IN OIL MARKETS & 2020 PRICES
Nisan 24, 2020
NEW CORONAVIRUS DISEASE: FROM THE BIOLOGICAL WARFARE PERSPECTIVE
Nisan 24, 2020

CORONAVIRUS CRISIS AND THE MIDDLE EAST

Since the Coronavirus, also known as Covid-19, spread outside of China in January 2020 it quickly turned into a global crisis of unprecedented scale, taking a high toll on human life and laying baring the fragility of battle-hardened economies that had not seen a shock alike since the financial crisis in 2009. Travel restrictions, cancelled events, closures, and curfews put a severe strain on Middle Eastern economies that were already seeing a slow-down in oil demand and a free fall in oil prices. The crisis wreaked havoc on economic and societal levels, producing supply, demand, and asset-side shocks. Most severely feeling the impact of the uncontrollable expansion of the infectious disease in the Arabian Peninsula are failed states, conflict regions, poverty-stricken dense societies, and oil-dependent economies of the Gulf region.

 

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