Publications: Notes at the Margin

Saudi Arabia Seizes Its Last Opportunity (April 16, 2018)


Middle East producers see Venezuela’s problems, combined with the looming distillate squeeze in 2020 created by the International Maritime Organization, as an opportunity to cash in from rising oil prices. The key countries in the Persian Gulf likely consider the impending price increase from 2018 through perhaps mid-2021 as their last real chance to build financial resources and fund internal economic transition programs such as Saudi Arabia’s Vision 2030. It may well be their last occasion, especially if high-priced gasoline and recession prompt the election of a reform-minded government in the United States, one that joins with the European Union and China to suppress fossil fuel use aggressively.


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