In The Economist Intelligence Unit’s (EIU) latest global outlook video, Agathe Demarais, Cailin Birch and Adnane Allouaji discuss The EIU’s latest oil price forecasts and their implications for Middle Eastern countries.

The EIU expects global GDP to grow by 5.4% in 2021 after a coronavirus-induced slump in 2020. Although the timelines for the recovery will vary between regions, this robust recovery will drive a sharp rebound in commodities prices 2021-22. Cailin Birch, The EIU’s global economist, discusses what an increase in oil prices means for global inflation.

Growth in the Middle East tends to be correlated with movements in global oil prices. Adnane Allouaji, an analyst in The EIU’s Middle East team, looks more closely at the economic outlook for the MENA region and touches upon the economic diversification drive of many Gulf countries.

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