- 23 Apr 2020
[Political Economy] The Oil Price Collapse and Its Implications for Gulf Economies
Abstract
The oil price war and demand slump as a result of Covid-19 have caused prices to hit lows not seen in years. Never before have oil markets faced such demand destruction on the one hand, and a huge supply surge from Saudi Arabia, other Opec countries, the United States and Russia on the other. This unprecedented, perfect storm of events has serious economic implications for the Gulf economies and its citizens.
Join us for this public talk, which will be conducted online via Zoom. All are welcome to participate. An e-invite will be sent to you upon registration.
Image caption: A general view of Saudi Aramco’s Abqaiq oil processing plant as seen on 20 September 2019. Photo: Fayez Nureldine/AFP.
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About the Speakers
Senior Scholar
Pembroke College
University of Cambridge
Prof Giacomo Luciani
Scientific Advisor,
Master in International Energy,
Paris School of International Affairs, SciencesPo
John Sfakianakis is an associate fellow with the Middle East and North Africa Programme- Chatham House and a Senior Scholar at Pembroke College, University of Cambridge and Chief Economist and Head of Research of the Gulf Research Center.
He is the chief economist and head of research of the Gulf Research Center in Riyadh, Saudi Arabia. He previously was director for the Gulf region of the Ashmore Group and Chief Investment Strategist for MASIC, a diversified family office in Riyadh.
He also held the position of chief Middle East economist for Credit Agricole C.I.B. and group general manager and chief economist for Banque Saudi Fransi as well as chief economist for The Saudi British Bank/HSBC and chief regional economist for Samba Financial Group.
John has lived in Saudi Arabia for many years and has travelled throughout the MENA region, working on a variety of asset management and private sector led tasks for large international and regional conglomerates.
He is a frequent commentator for Bloomberg, CNBC, BBC, CNN and others. In addition, he has published articles in The Financial Times, The New York Times, Bloomberg, Foreign Affairs, Foreign Policy and the Daily Telegraph.
Scientific Advisor for the Master in International Energy at PSIA, Giacomo Luciani is also Adjunct Professor at the Graduate Institute of International and Development Studies, Geneva and Director of the Executive Master in International Oil and Gas Leadership. For the period 2010-13 he was appointed Princeton University Global Scholar, attached to the Woodrow Wilson School and the Department of Near Eastern Studies, The Institute for the Transregional Study of the Contemporary Middle East, North Africa, and Central Asia. His research focuses on the political economy of the Middle East and North Africa and on global energy issues.
