Arab House videoconference
The economic and political consequences for the Arab world of the oil crisis caused by Covid will be analyzed by two energy experts in the region.
![[Img # 36287]](https://empresaexterior.com/upload/images/05_2020/2421_casaarabe.jpg)
Next Wednesday, May 20th, Arab house the conference offers "Oil, the beginning of the end?", in which the economic and political consequences for the Arab world la oil crisis generated by the Covid, with the help of two energy experts in the region: Gonzalo Escribano (RIE – Uned) and Aurelia Mané (UB). It will be live at 18:00 PM, on the YouTube and Twitter channels.
As in so many other sectors, the oil industry is experiencing unprecedented times. As a result of the economic paralysis and the lockdown of a third of the world, the drop in demand for hydrocarbons has been so abrupt that it even led to negative crude oil prices at the end of April. The distortions this is generating in the market and its medium- and long-term consequences are still difficult to predict, but these are undoubtedly transformations that will reconfigure the economic and political system of both importers , the hydrocarbon exporters.
The Arabian countries They produce a third of the world's oil consumption and possess half of the world's reserves. For some of them, especially the Gulf countries, hydrocarbon revenues account for more than 50% of GDP and around 60-70% of their export earnings. The drop in prices is leading to a massive decline in their revenue forecasts, budget revisions, the introduction of cuts and adjustment measures, and the paralysis of development plans and projects. For some exporting countries, such as Algeria and Iraq, this situation comes at a very complicated socioeconomic and political time, and for others, such as Saudi Arabia or the monarchies of Gulf, can generate a significant trend change.
With the aim of analyzing these aspects and their impact on the political economy of the region, Arab house This debate is being organized via videoconference and will be attended by Gonzalo Escribano, head of Energy and Climate Change at the Elcano Royal Institute and professor of Economics at UNED, and of Aurèlia MañéProfessor of Political Economy of Energy at the University of Barcelona, moderated by Olivia Orozco, coordinator of Training and Economics at Casa Árabe.
The conference can be followed live on:
Channels in Youtube y Twitter hashtag #debatescasaarabe
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