Oil Price Decline: Will It Affect Bahrain?

- Advertisement -

The sudden and historical decline of oil prices will have no negative impact on Bahrain, economic experts reported.

They noted that the fall of the prices of the contracts that were due last Tuesday had a short and limited effect and will not affect Bahrain because the sale of oil was done directly with the consuming countries with no price speculation.

Chairman of the Bahraini Economists Association, Ali Al-Mawlani, said that the decline in oil prices was historic and unprecedented.

READ  Saudi Aramco To Cut Spending in 2020

For his part, Deputy Chairman of the Financial and Economic Affairs Committee in the Shura Council, Redha Faraj, explained that the drop in oil prices was not permanent, but for the futures contracts that came to delivery in May.

He confirmed that the decline was for a short period, indicating that the price of contracts that were due for delivery in July would range between $22 and $25 a barrel.


- Advertisement -