COFACE: Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers

* Study on the impact of oil price volatility in the Middle East and Africa   The COVID-19 pandemic’s negative impact on global GDP growth and global trade volumes has caused a sharp drop in oil prices in the spring of 2020. This price drop, even if temporary, has affected Middle Eastern and African oil exporters differently, in line with their national output’s dependence on oil, as well as their fiscal strength and international ...

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