Social and Behavioral Sciences Commons^™

Oil Prices Once Again: The Link Towards Middle East Economies, Erhan Aslanoğlu, Pinar Deniz

Topics in Middle Eastern and North African Economies

Recently, it is observed that current account surplus in oil exporting countries have been rising with the help of peaking oil prices. Expansionary monetary policies of major central banks boosting the speculation on commodity prices, political turmoil in Middle East region which is called the “Arab Spring,” and most importantly rising energy demand in the world economy due to high average growth rates of developing countries are argued to be the main reasons for the rising oil prices. This study aims to clarify the global stance of oil prices examining causes and how this affects Middle East economies (MEEs) separately …