When oil prices were at their peak, revenues from hydrocarbon products-enabled governments in the GCC region allowed them to generate fiscal surpluses while spending...
FEATURES & ANALYSIS
Over the past decade, rising oil prices have enabled most of the MCDOEs to maintain high levels of public investment, which remained high even during the financial crisis and was part of the fiscal stimulus provided by governments to mitigate the impact of the global crunch.
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BQ´s CURRENT ISSUE
Although the rise of IS is very complex and must not be simplified, it is clear that oil production and illicit oil trade has been crucial in keeping its terror machinery running. So, will air strikes destroying its infrastructure and plunging oil prices bring IS to its knees?