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Iraq: A tale of two shocks

By Masood Ahmed Iraq is facing a “double shock” from the self-proclaimed Islamic State of Iraq and Syria (ISIS) insurgency and the global plunge in oil prices. While the new government led by Prime Minister Haidar Al- Abadi was formed with the express objective of dealing with the insurgency and addressing the humanitarian disaster it …

Daily News Egypt

High oil prices to push MENA growth forecast up in 2013

The expected growth prospects of the MENA region strengthened, with predicted growth of 5.3 per cent in 2012 and 3.6 per cent in 2013, according to Qatar National Bank Group (QNB). QNB attributed the strong forecast to higher oil prices and increased government spending, according to the bank’s group review of the International Monetary Fund’s …

Hend El-Behary

OPEC leaves 2012 oil demand steady, pumps more

By Alex Lawler/Reuters LONDON: OPEC left its forecast for world oil demand growth in 2012 unchanged for a second month, saying there were signs that a slowdown in global economic activity is easing. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand would rise by 860,000 barrels …

DNE

The energy deficit

By Michael Spence MILAN: I have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security …

DNE

Oil prices drift lower in muted trade

By AFP LONDON: World oil prices sank on Monday, continuing the previous week’s downtrend, as traders digested the latest batch of data on the Chinese economy. New York’s main contract, West Texas Intermediate crude for delivery in May, dropped 58 cents to $102.44 a barrel. Brent North Sea crude for May shed 95 cents at …

DNE